Standard gold eased by Rs 50 at Rs 4,705 per 10 gm. Gold .22 carat was down by same margin at Rs 4,350 per 10 gm. in sympathy. Prices of gold biscuit (116.50 gm.) dropped by Rs 300 at Rs 56,000 per piece. Demand resistance at higher level and continued local supplies prompted fresh profit-taking, according to dealers. Slide in dollar value against rupee also put pressure on bullion prices. In the global market the yellow metal bounced back from $315/316 to $320/321 per ounce.

Meanwhile silver .999 moved in a narrow range and closed Rs 5 higher at Rs 8,430 per kg. Silver .916 however ruled steady at Rs 8,305 per kg on nominal trading activity.

Industrial and seasonal buying for silver was sluggish but poor supplies kept offerings restricted during the day. Overseas arrivals remained at a low ebb but supplies from local sources were reported normal during the day. In the overseas market the white metal climbed from $5.46 to $5.57 per ounce.

G'nut oil weak

Groundnut oil ruled weak on the oil,oilseeds market here today. Castorseed and its oil reacted in the ready delivery while prices placed firm in the forward market.

Groundnut oil declined by Rs 5 at Rs 400 per 10 kg in absence of fresh buying interest coupled with brisk new crop supplies and prevailing weak upcountry advices. In Rajkot groundnut oil quoted Rs 10/15 lower at Rs 620 per 15 kg, it was learnt.

Imported palm oil finished Rs 4 lower at Rs 220 per 10 kg on news of weak global market. Indian importers turned active sellers following slide in dollar value against rupee. In the global market palm oil went down below $400-mark at $395/397.50 per tonne. Castor oil closed Rs 6 lower at Rs 403/415 per 10 kg in absence of fresh overseas interest. Castorseed ready was down by Rs 30 at Rs 1,859/1,865 per quintal in sympathy.

In the future section castorseed December delivery moved in both ways before concluding Rs 4 up at Rs 1,908 per quintal on light covering. In Ahmedabad prices quoted modestly higher at Rs 1,894 and in Rajkot at Rs 1,888 per quintal.

In the international castor oil future market the trend is weak as both December and February delivery reacted by Rs 4 each at Rs 414 and Rs 418 per 10 kg.

Sugar edges up

A better trend prevailed on the sugar market following improved buying support.

The price looked up by Rs 5 a quintal as M-30 were quoted at Rs 1450-1500 and S-30 at Rs 1430-1450 ex-godown. Ex-octroi checkopost, M-30 were in demand at Rs 1435-1445 and S-30 at Rs 1415-1425.

In tenders, M-30 were up by Rs 5 at Rs 1370-1385 while S-30 held steady at Rs 1350-1360 in Kolhapur line.

Grains dull

A dull condition continued on the grains market as the demand remained thin.Wheat milling indigenous at Rs 760-765, imported at Rs 650 and FCI at Rs 725 a quintal were unchanged. Wheat North Gujarat Sonaklyan were placed at Rs 835-861 Tukadi at Rs 850-875 and 496 at Rs 865-875. Rice Perimal average were placed at Rs 950-1200 and superior at Rs 1400-1450.

Among pulses, Australian gram found sellers at Rs 1425-1450. Kabuli gram A-2 were quoted at Rs 3600-3700, B-2 ready at Rs 3100-3200 and incoming at Rs 2800. Kabuli gram C-2 average were traded at Rs 2000-2200 and superior at Rs 2300-2500. natural found sellers at Rs 2600-2700.

Tur Myanmar were on offer at Rs 2100. Urad Myanmar were traded at Rs 1950-2000.

Yarn steady

A steady trend prevailed on the yarn market.

Viscose filament yarn bright cones first quality Century Rayon 150dn ruled at Rs 196, 120dn at Rs 205, 100dn at Rs 220 and 75dn at Rs 252 a kg. 40dn were placed at Rs 428.

Among coarse deniers, 180dn were placed at Rs 186, 225dn at Rs 163, 300dn at Rs 168, 450dn at Rs 140 and 600dn at Rs 138. 120dn dull cones were quoted at Rs 217.

Nylon yarn 15/1/0dn Shreelon were on offer at Rs 245. Gujnil 20/1/0dn and 30/10dn found sellers at Rs 220 and at Rs 310 respectively. 111/24/0dn ruled at Rs 155.

Punjab cotton eases

An easy condition continued in Punjab goods on the cotton market.

Ready J-34 saw-ginned good average Punjab shed Rs 5 to 10 a maund at Rs 1705-1775 spot. Haryana at Rs 1665-1711 and Rajasthan at Rs 1680-1690 were static. Roller-ginned Haryana and Rajasthan were placed at Rs 1610-1630 and at Rs 1620-1630 respectively.

Bengal Deshi lost Rs 10 to 15. Roller-ginned Punjab were placed at Rs 1210-1250 and Rajasthan at Rs 1250-1265.

Haryana were better at Rs 1245-1250. Saw-ginned ruled at Rs 1270-1300, at Rs 1304-1310 and at Rs 1290-1305 respectively. Inflow consisted of 2500 bales of Bengal Deshi and 3500 bales of J-34.

V-797 at Rs 13,600-14,100, Wagad at Rs 13,100-13,200 and kalan-ginned at Rs 12,400-12,500 a candy were steady. Sanker new ruled at Rs 20,000-20,200.