Silver .999 looked up by Rs 5 at 8,090 and silver .916 moved by Rs 10 at Rs 7,975 per kg. Steady festival buying pushed silver prices upward while limited supplies arrested fresh offerings at the reduced level. In the global market silver closed lower by 2 cents to $4.83 per troy ounce.

Standard gold was quiet at Rs 4,550 so was gold .22 carat at Rs.4,250 per 10 gms. Price of gold biscuit (116.50 gm.) softened by Rs 200 at Rs 53,100 per piece. Demand resistance followed by weak global advices prompted profit taking by stockists and local bankers. In the overseas market gold fell to close at $270.75 per troy ounce.

Oil, oilseeds: Groundnut oil eased sharply from improved level on the oil, oilseeds market here on Thursday. Castorseed and its oil were held in ready delivery but prices reacted in the forward market.

Groundnut oil dropped from Rs 395 to Rs 386 per 10 kg amidst slow festival buying and continued unloading by stockists and millers as fresh crop supplies were round the corner.

In Rajkot, prices slid to Rs 615/620 per 15 kg. Imported palm oil recovered by Rs 3 at Rs 197 per 10 kg on encouraging overseas advices. In the global market palm oil prices improved by $7.50 at $250 per tonne for nearby delivery. Long deliveries were placed higher at $255/272.50 per tonneCastor oil ruled steady at the reduced level of Rs 295/307 per 10 kg. Castorseed ready maintained at Rs 1,325 per quintal.

In the future section castorseed December delivery opened lower at Rs 1,312 (Rs.1,320) and closed at Rs 1,316 per quintal. Castor oil December delivery remained quiet at Rs 315 per 10 kg. Palmolien November delivery went up from Rs 196 to Rs 199.50 and December delivery from Rs 205 to Rs 210 per 10 kg.

In Ahmedabad castorseed December delivery closed at Rs 1,332.50 and newly opened February delivery placed at Rs 1,305. Traders placed castorseed arrivals at 4000/5000 bags in Gujarat.