Standard gold reacted by Rs 20 at Rs 4,230 per 10 gm. Gold .22 carat eased by same margin at RS 3,915 per 10 gm. Prices of gold biscuit (116.50 gm.) slipped by Rs 300 at Rs 49,600 per piece. Seasonal demand turned sluggish at higher level while weak overseas advices prompted light profit-taking. Uptrend in dollar value against rupee had little impact on the market today as imported gold fell from $314 to $309 an ounce, it was learnt.

Castorseed further up

Groundnut oil improved further on the oil,oilseeds market here today. Castorseed and its oil forged ahead in the readymarket while prices maintained in the forward delivery.

Groundnut oil jumped up from Rs 417 to Rs 421 per 10 kg amidst poor supplies, lack of ready stock and continued physical support. In Rajkot it was steady at Rs 605/610 per 15 kg. Arrivals in the city market remained low due to introduction of permit system by Gujarat government on upcountry sale, dealers said.

Imported palm oil closed a rupee higher at Rs 362 per 10 kg exclusive of tax following uptrend in dollar value and firm trend in international market.

Castor oil moved up by Rs 2 at Rs 282/294 per 10 kg on reports of Chinese buying. Castorseed ready closed Rs 10 higher at Rs 1252/1258 per quintal. Export deals for China was done at $715 per tonne, it was learnt.

In the futures section castorseed June delivery moved in a narrow range and finished steady at Rs 1306.50 amidst thin trading at the higher level. In Ahmedabad prices fell by Rs 1.50 at Rs 1281.50 on profit-taking by bull operators. Arrivals of castorseed in Gujarat region placedhigher at 45000/50000 bags, it was gathered.

Sugar edges up

A slightly better tendency was noticed on the sugar market following improved offtake due to market remaining closed for the next two days.

Prices were edged up by Rs 3 to 5 a quintal. M-30 were placed at Rs 1460-1470 and S-30 at Rs 1420-1440 ex-octroi checkpost. Ex-godown, M-30 were quoted at Rs 1470-1520 and S-30 at Rs 1430-1460.

Imported sugar ruled steady. French were quoted at Rs 1357, Dubai at Rs 1360 and Pakistani ex-ship due on 10th at Rs 1387.

Tender prices were also indicated higher by Rs 5. M-30 were placed at Rs 1415-1425 and S-30 at Rs 1385-1395.

Cotton dull

A dull tendency prevailed on the cotton market following slack mill demand.

Arrivals in Punjab zone consisted of 1500 bales of J-34 and 200 bales of Bengal Deshi. J-34 saw-ginned good average Haryana ruled at Rs 2000-2025, Rajasthan at Rs 2020-2045 and Punjab at Rs 2035-2055 a maund spot.

Cart-selected were placed in the range of Rs 2075-2150.Roller-ginned ruled at Rs 1905-1950. F-414 were quoted at Rs 2160-2170. Bengal Deshi were on offer at Rs 1580-1615.

Sanker, V-797, wagad and kalaginned were quietly steady.

Yarn quiet

A very quiet condition prevailed on the yarn market following poor demand and acute liquidity crunch.

The power cut in Bhiwandi has curtailed the powerloom operations by around 35 per cent. The workers would also will been on holidays for two days further affecting the production of cloth. This has severly affected the offtake of polyester yarn. The monetary situation has also been very tight.

Grey first quality of medium-sized units 80dn rotoset found sellers at Rs 107-108 and micro rotoset at Rs 116-117. 80dn weft and warp were traded at Rs 103-104 and at Rs 115-116 respectively. 80/1000dn at Rs 130-135 and 80/1400dn at Rs 135-140 were static.In the case of 150dn, weft were placed at Rs 77-80 and warp at Rs 89-92 .

Grains steady

A steady trend prevailed on the grains market. Activity wasmodest.

Wheat arrivals were placed around 100 truckloads. Wheat milling were placed at Rs 585-591 a quintal. Wheat Saurashtra Lokvan were traded at Rs 725-825 and SW at Rs 700-1100. North Gujarat wheat were on offer at Rs 625-750.

Among pulses, green peas USA were placed at Rs 1625-1650 and Canadian at Rs 1211. White peas Canadian were on offer at Rs 975. Moong and urad Myanmar were placed at Rs 1750-2000 and at Rs 1161-1200 respectively.

DELHI

White metal suffered losses while yellow metal, on the local bullion market recorded gains on Tuesday.

Gold, on the overseas market firmed up by $6 to $314 an ounce on Monday, consequently, gold biscuit and standard mint gold, yesterday evening flared upto Rs 4300 and Rs 4325 from Rs 4245 and Rs 4250 per 10 gram respectively, but on inflow of about 200-300 kgs gold coupled with weak overseas advices, prices slipped to Rs 4260 and Rs 4275 respectively, showing a gain of Rs 25 per 10 gram.