Mumbai, Jan 4: Bullion: Bearish trend continued in both the precious metals on the bullion market here. Physical buying was at a low ebb on account of the ongoing unauspicious period which may last upto January 14, dealers said. Steady local supplies followed by discouraging overseas advices pulled down precious metals in the local market.Standard gold closed Rs 20 lower at Rs 4,510 per 10 gm. Gold .22 carat was down by same margin at Rs 4,170 per 10 gm. Prices of gold biscuit (116.50 gm) declined by Rs 100 at Rs 52,700 per piece, after losing Rs 350 on Wednesday. In the global market gold fell from $268l.60 to $268.45 per troy ounce.
Silver .999 slipped by Rs 50 at Rs 7,625 per kg after losing Rs 60 on Wednesday. Likewise silver .916 also fell further by Rs 50 at Rs 7,515 per kg in sympathy
OIL, OILSEEDS: Groundnut oil remained weak on the oil, oilseeds market here. Castorseed and its oil ruled quiet in the ready delivery while forward market recovered.
Groundnut oil closed Rs 5 lower at Rs 305 per 10 kg in absence of fresh buying interest. In Rajkot prices quoted lower at Rs 520/525 per 15 kg.
Imported palmoil eased by Rs 2 at Rs 188 per 10 kg on weak overseas advices. In the global market palmoil commenced $5 lower at $200 and settled down at $202.50 per tonne.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
