Delhi, March 12: Both the precious metals, on the local bullion market lost their shine on weak overseas advices on the Delhi bullion market on Thursday.New York silver future which yesterday firmed upto 635 cents from 603 cents an ounce, climbed down to 617 cents an ounce on Thursday coupled with inflow of 5000 kgs. of imported silver on Wednesday, consequently, spot silver .999 crashed to Rs 8625 from Rs 8755 a kg. and indigenous silver ready tumbled down by Rs 125 at Rs 8575 a kg. Silver weekly delivery slided down to Rs 8590 from Rs 8705 a kg. on unloading by the bulls. Demand in silver weekly delivery was reported poor.
Silver coins, however, held steady at Rs 10,000-10,200 per 100 pieces. According to traders, demand in gold and silver is likely to remain dull because of Holi festivities. Gold, on the overseas markets, dipped by $3 to $293 an ounce, consequently, gold biscuit edged lower by Rs 15 at Rs 4040 and standard mint gold slipped by Rs 5 at Rs 4060 per 10 gram. Gold sovereign dipped byRs 25 at Rs 3450-3475 per 8 gram due to weak demand.
Mumbai: Silver prices reacted sharply on the bullion market on Thursday on heavy stockists offerings on news of arrivals of fresh stocks and declined by Rs 110 per kg. Weak London advices also dampenend the sentiment.Gold also turned distinctly weak on withdrawal of local buying coupled with weak overseas advices.
Ready silver of .999 declined steeply to close at Rs 8575 from Rs 8685. Raw silver of .916 and tenderable silver also fell sharply to close at Rs 8450 and Rs 8580 respectively from the last close of Rs 8570 and Rs 8690.
Standard gold reacted by Rs 20 to settle at Rs 3990 from Rs 4010. 22-carat gold was quoted weak at Rs 3690 from Rs 3710 and ten-tola gold bar of .999 purity fell by Rs 200 to finish at Rs 46,900 as against Rs 47,100 on Wednesday.
Gram slumps
The local grains and pulses market of Naya Bazar and Rui mandi-Medganj remained closed on Thursday on account of Holi, but Lawrence Road, Najafgarh and Narela mandies were opened.
Daily arrival of wheat in these mandies was reported more than 10,000 bags, but upcountry demand remained dull as prices of wheat in M.P., Rajasthan and Gujarat mandies were quoted at Rs 485-525 a quintal which were lower as compared to Delhi.
Wheat dara at Lawrence Road was quoted at Rs 550-555 a quintal and roller flour mill atta, maida and suji was down by Rs 20-25 at Rs 545, Rs 605 and Rs 630 per bag respectively.
Arrival of gram at Lawrence Road was reported about 38 lorries, consequently, gram Rajasthani slumped by Rs 50 at Rs 1400 a quintal and new Kanta gram of M.P. were quoted at Rs 1150 a quintal.
Mumbai: A quiet tendency prevailed on the grains market. Activity was very dull.
Wheat arrivals which were around 100 lorry loads dropped down to just around 40 on account of proximity of Holi. The business passing was also very thin.
The price ruled quietly steady. Wheat milling were on offer at Rs 611-615. Among other new wheat, north Gujarat were on offer at Rs 650-750, Saurashtra at Rs 675-850 and MP 147 at Rs 611-850. Old wheat MP Sarbati were traded in the range of Rs 775-1200.
Rice were static. Permal medium were placed at Rs 900-950 and superior at Rs 1100-1200.
Among imported pulses, green peas USA ruled at Rs 1550-1575, Hungarian Rondo at 1350-1400 and Canadian at Rs 1261. Tur Myanmar 1998 and 1997 were placed at Rs 1541 and at Rs 1441 respectively.
Urad Myanmar were quoted at Rs 1225. Gram Australian were placed at Rs 1200-1250. Kabuli gram A-2 were placed at Rs 2200-2300. B-2 Iranian ruled at Rs 1900-1925 and Turkish at Rs 1700-1725 C-2 were traded at Rs 1300-1350.
Sugar easy
On panic selling by the millers, business in mill delivery sugar remained sluggish.
Mill delivery sugar Sehora yesterday dipped to Rs 1255 from Rs 1280 a quintal. Mawana sugar was traded at Rs 1352, Bundaki at Rs 1300, Simbhauli old at Rs 1310, Dauralla new at Rs 1330-1340, tax-paid Dhampur and Devband at Rs 1403 and Khatuali was traded at Rs 1414 a quintal. Spot sugar ruled easy at Rs 1390-1475 a quintal.
Mumbai: A weak tendency continued on the sugar market following slack demand coupled with increasing pressure of imported goods supply.
Price dropped down by Rs 10 a quintal ex-octroi checkpost on selling pressure. M-30 dipped to Rs 1430-1440 and S-30 to Rs 1400-1415. Ex-godown, the price eased by Rs 3 to 5. M-30 were on offer at Rs 1450-1507 and S-30 at Rs 1430-1465.
Among imported sugar, Brazilian white and offwhite were placed at Rs 1335 and at Rs 1325 respectively. South African were on offer at Rs 1345 and French at Rs 1350. A ship carrying Pakistani sugar of 4200 tonnes has reached here and the goods under clearance were offered at Rs 1400.
As the entire quantity for the first fortnight having been sold out there were no tenders from the mills. Delivery orders for M-30 and S-30 were transcated at Rs 1395-1400 and at Rs 1375-1380 respectively in Kolhapur line.
Palmolien flares up
Palmolien in Malaysia firmed up by $5 to $ 640 a tonne. Arrival of soyabean and sunflower in South America was hit hard because of unseasonal rains, consequently, cottonseed oil mill delivery looked up by Rs 20 at Rs 3220 and mustard oil expeller recorded a gain of Rs 20 at Rs 3170 a quintal. Palmolein flared up by Rs 50 at Rs 3450 a quintal.
Cotton steady
Mumbai: A steady trend prevailed on the cotton market. Activity was restricted.
J-34 saw-ginned good average ruled at Rs 1990-2010, cart-selected at Rs 2080-2140 and Bengal Deshi at Rs 1510-1570 a maund spot. F-414 were mentioned at Rs 2170-2175.
Sanker ruled in the range of Rs 20,000-21,500 a candy. Loose Sanker Manavadar were placed at Rs 1075-1157 per 20 kgs. V-797 ruled at Rs 15,400-15,700.
Polyster yarn firm
Mumbai: With the polyester yarn prices continuing to exhibit firm trend gernerally, Reliance Industries Ltd (RIL) has hiked the prices once again.On reserved selling coupled with modestely better buying support polyester yarn grey first quality medium-sized units 80dn weft gained Rs 3 a kg at Rs 111-112. Warp came out from limbo on sudden buying inquiries while the supply was thin. the price spurted to Rs 125-130. 80dn rotoset and micro rotoset were on offer at Rs 115-116 and at Rs 124-130 respectively.
In the case of 150dn, weft at Rs 88 and warp at Rs 100 gained Rs 2. Single and double rotoset at Rs 92-93 and at Rs 95-96 respectively were steady.
RIL, after having hiked the price of POY by Rs 2 a kg on Monday, has jacked up the price of 80dn weft by Rs 2 at Rs 111, of rotoset by Re 1 at Rs 119 as also of all items of grey 150dn yarn by Rs 2. 80/1000dn and 80/1400dn prices have also been raised by Rs 2. The new price of POY for 126dn has been Rs 66 and for 235dn Rs 57 (exclusive of excise).
Metals static
Mumbai: Prices ruled steady at the non- ferrous metals market on Thursday on restricted activity, dealers said.
Following were rates per kilo.
Copper scrap heavy Rs 106.00, copper wire bar Rs 115.30, copper utensils Rs 93.75, brass scrap Rs 83.25, brass sheets cutting Rs 87.25, aluminium scrap Rs 62.00, aluminium ingots Rs 82.00, zinc Rs 70.00, lead Rs 40.00, tin Rs 345.00 and nickel Rs 310.00.
The market will remain closed tomorrow, march 13 on account of `holi'.
Cement weak
Cement prices ruled weak on negligible demand from builders ACC Gagal, J.K. Super, Birla Chetak, Birla Uttam and Vikram cement f.o.r. rates were quoted at Rs 124 per bag unchanged.
Raymond multiguard at the sidings was offered at Rs 123, duraguard at Rs 119 and 43-grade at Rs 121. Shakurbasti sidings had one lac bags in stock including today's inflow of 34,000 bags.
Potato gains
Onion, garlic and ginger prices were unchanged as due to Holi, the demand was lower from upcountry traders However, following higher prices advices from upcountry markets, superior potato of U.P. surged up by Rs 20 at Rs 350 and Haryana variety traded at Rs 330 per 80 kgs.
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