Silver .999 shot up by Rs 90 at Rs 8,940 per kg. Silver .916 hardened by Rs 95 at Rs 8,840 per kg in sympathy. Industrial buying continued while thin supplies and acute shortage of ready stock triggered fresh buoyancy in the prices. In Delhi silver forward delivery was up at Rs 9,040/9,050 per kg. Ready delivery was quoted at a premium of Rs 200/225 per kg. In the global market silver looked firm at $6.46 an ounce.

Standard gold closed steady at Rs 4,250 per 10 gm. So was gold .22 carat at Rs 3,930 per 10 gm. Prices of gold biscuit (116.50 gm.) ruled steady at Rs 49,800 per piece. Seasonal buying was sluggish at higher level and poor supplies and firm trend in dollar value kept offerings limited. In the global market gold ruled steady at $310/310.50 an ounce.

Oil,oilseeds mixed

Groundnut oil was steady at the improved level on the oil,oilseeds market here today. Castorseedand its oi lost gained ground on profit-taking.

Groundnut oil maintained at Rs 437 per 10 kg amidst demand resistance while inflow was placed around 30/40 tonnes, dealers said. In Rajkot prices quoted at Rs 620/625 per 15 kg. Imported plam oil closed Rs 4 higher at Rs 375 per 10 kg exclusive of tax on shortage of ready stock followed by firm overseas advices. In the global market palm oil placed at $685/690 per tonne.

Castor oil reacted by Rs 3 at Rs 284/296 per 10 kg as overseas demand petered out. Castorseed ready slipped by Rs 15 at Rs 1,261/1,267 per quintal in sympathy.

In the futures section castorseed June deliver declined from Rs 1,303 to Rs 1,295.50 before concluding the day at Rs 1,299.50 per quintal as weak Ahmedabad advices prompted bull unloading.

In Ahmedabad prices fell to Rs 1,274 per quintal. Arrivals of castorseed in the Gujarat region picked up to 55000/60000 bags, it was learnt.

Gujarat cottons down

An easy trend prevailed on the cotton market following slack demandwhich induced increased offerings.

Gujarat cottons lost Rs 300 a candy. V-797 were placed at Rs 15,400-15,600, Morbi wagad at Rs 14,800-14,900 and Sanker in the range of Rs 19,500-22,000 spot. Lower landed price of 40 counts imported cotton also continued to cast bearish effect in Sanker. In MP also arrivals of inferior quality have been satisfactory. This has caused a dent of Rs 500 in the values.

In Punjab zone, prices were more or less static as the arrivals were on the wane due to Baishakhi festivals. J-34 saw-ginned good average were placed at Rs 1980-2035, cart-selected at Rs 2065-2140, F-414 at Rs 2160-2165 and Bengal Deshi at Rs 1560-1580.

Meanwhile, procurement has continued in Maharashtra. Trade sources place the total quantity procured at an equivalenet of 14 lakh bales.

Kabuli gram spurts

A sharp rise in the quaotations of kabuli gram provided main feature of trading on the grains market. Milling wheat also presented a firm stance.

Following extremely reserved selling triggeredby reports of lower domestic crop and low inventory of imported material, the price of kabuli gram surged by Rs 300 a quintal. A-2 were sought after at Rs 2500-2600, B-2 at Rs 2100-2300 and C-2 at Rs 1700. Natural kabuli met with support at Rs 1700-1800.

Tur were edged up by Rs 25 on imporved offtake. Myanmar 1998 were traded at Rs 1575 and 1997 at Rs 1475-1500. Urad Myanmar old at Rs 1171-1175 and new at Rs 1211-1221 were better by Rs 10. Canadian green peas shed Rs 20 on selling pressure and ruled at Rs 1181-1191. USA green peas were steady at Rs 1600-1625. White peas Canadian continued to be on offer at Rs 975. Australian gram at Rs 1175 and moong Myanmar at Rs 1750-2000 were steady.

Among cereals, following lower arrivals and hike in the procurement cost due to government announcing a bonus of Rs 55 a quintal for the current season, milling wheat price hardened by Rs 35 to 40 at Rs 625-630. Superior wheat were quiet on improved inflow. Rice ruled steady.

Sugar softens

Bullish trend in sugarrelented in the wake of demand losing momentum.

Softening up by Rs 10 to 15 a quintal M-30 were placed at Rs 1500-1565 and S-30 at Rs 1465-1510 ex-godown. Ex-octroi checkpost, the former dipped to Rs 1485-1500 and the latter to Rs 1440-1460.

In tenders also prices ruled easy. S-30 were quoted at Rs 1425-1435 for new and at Rs 1410-1420 for old in Kolhapur line.

Among imported sugar, Dubai price eased by Rs 5 at Rs 1390. Brazilian white at Rs 1365, South African/French at Rs 1385 and Pakistani at Rs 1425 were unchanged.

Yarn easy

An easy tendency prevailed in polyesters on the yarn market following power crunch, first in Bhiwandi and now followed by 20 per cent cut in Surat.

Polyester yarn grey first quality of medium-sized units 80dn rotoset and warp price lost Rs 3 a kg at Rs 104-105 and at Rs 112-113 respectively. 80dn weft at Rs 102-103 and micro rotoset at Rs 115-116 shed a rupee.

In the case of 150dn, weft at Rs 80, warp at Rs 92, single roto at Rs 86 and double roto at Rs 88 weresteady.

DELHI

Wheat dara registered sharp fall from Rs 535-560 to Rs 520-540 per quintal on excess inflow from the adjoining states. However, this had no effect on wheat products prices as wheat flour and maida firmed up by Rs 5-15 at Rs 545 and Rs 610 per bag.

Among pulses, masoor and its dal moved up sharply by Rs 25-50 per quintal on news that the Government may release procurement tenders and apart from that, there was demand from the exporters also. Arhar and its dal and kabligram too moved up on demand from dal millers. However, gram declined by Rs 10 on new arrivals at around 50 trucks in the local market.

Mill delivery sugar lower

Mill delivery sugar Mawana was marked lower by Rs 10 at Rs 1485 on profit-taking sales, but still the old stock, prices were firm. Simbhauli traded at Rs 1420, Dhanoura at Rs 1400 and Bagpat at Rs 1365 per quintal.