Standard gold closed Rs 5 lower at Rs 4,270 per 10 gm. So was gold .22 carat at Rs 3,950 per 10 gm. Prices of gold biscuit (116.50 gm) nosedived by Rs 200 at Rs 49,950 per piece after gaining Rs 150 on Tuesday. Demand resistance capped the rally, while continued local supplies and weak global advices prompted profit booking among stockists and local bankers. Slide in dollar value against rupee coupled with market talks of enquiries carried out by tax officials on bullion dealers here also took heat out of the market. Meanwhile silver .999 lifted further by Rs 35 at Rs 7,355 per kg.

Silver .916 was up by Rs 40 to Rs 7,245 per kg. Steady industrial buying kept silver prices remain firm while thin supplies from Gujarat coupled with encouraging Delhi and overseas advices kept the offerings limited during the day. .

OIL, OILSEEDS: Groundnut oil finished on a steady note on the oil, oilseeds market here on Wednesday. Castorseed and its oil ruled quiet in the ready section but prices looked up modestly in the forward market.

Groundnut oil maintained at Rs 318 per 10 kg amidst slow trading and poor inflow. In Rajkot it was quoted at Rs 525/530 per 15 kg.

Imported palm oil here shot up by Rs 10 at Rs 254 per 10 kg amidst talks that government may impose anti-dumping duty. Castor oil held at Rs 268/280 per 10 kg so were castorseed ready at Rs 1,190 per quintal. In the futures section castorseed June delivery recovered from Rs 1,232 to Rs 1,245 before closing at Rs 1,241 per quintal on light covering by bears and shippers, floor sources said. Castor oil April delivery however finished Rs 3 lower at Rs 284 per 10 kg.