Silver delivery marked down from Rs 7705 to Rs 7565 a kg. According to a report, high and low rates of silver delivery are indirectly fixed at Rs 7500 and Rs 7900 a kg. Silver coins also slumped by Rs 100 per 100 pieces.

The gold market was dominated by the sellers on news from London that gold prices there slumped from $299.10 to $292.80 an ounce. With local and upcountry buyers at sidelines, gold biscuit declined from Rs 4250 to Rs 4180 per 10 gram. Gold standard lost Rs 60 at Rs 4200 per 10 gram and gold sovereign was down by Rs 25 per 8 gram.

MUMBAI: A downtrend prevailed on the bullion market as silverprices crashed heavily while gold softened moderately on Wednesday.

Silver .999 and raw fell sharply by Rs 290 and Rs 285 to Rs 7440 and Rs 7335 per kg respectively to touch a new low of the year due to global price decline. Poor buying interest by industrial units and better inflow also aided the sentiment.

Gold standard mint and 22-carat also lowered by Rs 35 and Rs 30 to Rs 4150 and Rs 3840 per ten gm on weak overseas advice coupled with poor seasonal buying. Ten tola gold biscuit also lost Rs 400 to Rs 48700 as against the previous close of Rs 49100 due to weak global trend coupled with poor buying support by investors and jewellery industry.

Rajmash chitra slumps

High rise in mercury all over the country affected the trading in the local mandies, as the inflow of foodgrains has declined.

Wheat flour millers demand fell to negligible level due to powercuts, the offtake in wheat was quiet poor and wheat prices were unchanged. Wheat products, maida and suji were marked down by Rs 5 perbag.

Among pulses, rajmash chitra slumped by Rs 25-50 at Rs 2575-2850 per quintal while arhar and gram Rajasthani registered a rise of Rs 5-10 per quintal. Small masoor and kabligram marked lower by Rs 10 and Rs 25 per quintal respectively.

Sugar steady

Mill delivery sugar was offered almost at the previous level and there were reports of nearly 15,000 bags deals made for UP and Punjab parties. Chandpur sold at Rs 1347, Bijnore at Rs 1348, Gajroula at Rs 1348 and Anupshahar at Rs 1357 per quintal. Gur arrivals to Muzaffarnagar were below normal, hence, in markets here, gur peri shot up by Rs 25-50 at Rs 1200-1225 a quintal.

Mustard oil slips

Mustard oil expeller was marked down by Rs 50-60 at Rs 3800-3840 per quintal as the overseas edible oils rates were reported to have declined. In Bihar, the high priced mustard oil lacked buyers interest. Palmolein in markets here was offered cheaper by Rs 50 at Rs 4100 and in Mumbai marked down by Rs 70 at Rs 3730 per quintal.

New red sesamehas commenced in West Bengal and it was being offered in here at Rs 1300-1350 per quintal. Report on palmolein in Malaysia, say that the prices there have slumped to $670 per tonne from $690 a tonne and $745 a week ago.

MUMBAI: Edible oil prices reacted afresh on the oils and oilseeds market here today. Groundnut oil declined on lack of demand at higher level coupled with modest selling pressure. Palmoil eased in unison. Groundnuts, however held fully steady.

In the industrial sector, linseed oil weakened due to absence of demand from the paint industry. Other items were featureless.

In futures, castorseeds September contract opened sharply lower at Rs 1357 from Tuesday's finish of Rs 1360, but later shot up to the day's peak of Rs 1361 on fresh buying interest. However, profit-sales at higher levels pared part of the gains and it settled at Rs.1360.50 at the close. The June contract was untraded.

Groundnut oil fell to Rs 425 from the overnight finish of Rs 429 and palmoil dropped to Rs.372from Rs 379. Linseed oil eased to Rs 385 from Rs 380. Groundnut ready bold at Rs 1980, castoroil commercial at Rs 288, castors ready Madras at Rs 1286 and linseed ready bold at Rs 1400 all finished at their previous levels.

Black pepper plummets

As the US dollar strengthened further, almond California shot up by Rs 100 at Rs 8800 per 40 kgs. and its kernel firmed up by Rs 6 at Rs 310 per kg.

On the other hand, almond Afghani gurbandi declined by Rs 100 at Rs 4500 per 40 kgs. Copra Tiptur eased by Rs 50 per quintal. Among spices, black pepper slumped by Rs 200-500 at Rs 20200-24800 per quintal on lack of export demand. Mace, zeera and turmeric were easy.

Hessians firm up

Following steady advices from Calcutta coupled with buoyant demand from local and adjoining states packagers, hessians firmed up by Rs 10-15 per 91.4 metres. A. Twill and harapatta held steady. Old gunny bags traded at their previous prices.

Hosiery yarn static

Coarse counts cotton yarn marked up by Rs 2-5per bundle due to millers quoting their prices higher on account of steady cotton prices. Hosiery and waste yarn were unchanged.