Bullion In the bullion market, gold prices displayed a marginal recovery due to emergence of buying at lower levels. With Diwali fast approaching, gold attracted fresh buying at the current low levels which helped the prices to go up, traders said. The trend was better in Sydney where the yellow metal closed higher at 270 dlrs per troy ounce due to some demand from Singapore, Hong Kong. India also boosted the gold sentiment. Silver held steady on scattered demand.

Oilseeds, Oils On the oilseeds and oils market, prices continued to slide as both edible and non-edible oils declined further due to poor demand in the face of good arrivals. Imported RBD palmolein dropped further by Rs 2 to Rs 192 from Rs 194 on weak overseas advices. In non-edibles, castor oil commercial eased to Rs 303 from the last close of Rs 304 on poor soap manufacturers' offtake. Castorseed bold Madras also looked down to Rs 1,365 from Rs 1,370 due to slackness in export demand. However, linseed oil held steady at Rs 300. In the futures market, castorseed December delivery contract opened sharply lower at Rs 1,319.

Thereafter, it attracted low-level support and recovered smartly to close at Rs 1,333, still showing a moderate fall of Rs 3 over the last close of Rs 1336. There was no trading in castor oil international contract. In RBD palmolein futures, prices of October delivery contract started better at Rs 195 but later, fell to close at Rs 193, showing a marginal fall over the last close of Rs 193.50. In the edible oil section, groundnut oil showed a fresh fall of Rs 3 at Rs 375 as against the previous close of Rs 378 due to weak outside advices coupled with good supplies.

Sugar
In a mixed market, ex-mill price rallied by Rs 10 on buying support. This also had a bearing in the sentiment of the local market. Local price ruled weak by Rs 3 to 5 a quintal on slack demand.

Metals
Copper wire bar edged up on mild demand, while lead eased due to poor offtake on the non-ferrous metal market here on Monday. Copper wire bar inched up to Rs 155.00 per kilo from Rs 154.00 previously. Lead eased to Rs 41.00 per kilo from Rs 41.50. Other metals ruled steady.

Spices In spices, black pepper shot up sharply while copra prices declined in the spices market on Monday. Black pepper rose sharply on good demand.

Poor arrivals from producing belts also affected the sentiment. Copra prices fell moderately due to poor offtake. Black pepper rose by Rs 100/200 per 50 kg to Rs.10,600/11,600 from Rs. 10,500/11,400 previously.

Yarn
Polyesters suffered a fresh setback on the yarn market following very sluggish demand and acute liquidity crunch. Price of 80 dn dropped down by Rs 2 a kg afresh as offtake remained poor. The capacity utilisation in Bhiwandi powerlooms fell from 60 per cent to around 50 per cent in the wake of sluggish fabrics business. Come Diwali and the holidays volumes will shrink.

Grains
A steady trend prevailed on the grains market. Volumes were low side and centred around imported pulses.