Silver .999 opened Rs 65 lower at Rs 7,800 per kg on weak overseas advices but latter on prices closed higher at Rs 7,850 with a overnight loss of Rs 15 per kg. Silver .916 also reacted by Rs 55 to Rs 7,690 per kg in sympathy. Silver opened lower on weak overseas advices but thereafter uptrend in the dollar value trimmed some of the early losses towards close. Silver was up by Rs 265 per kg on Tuesday.

In the global market silver reacted from $5.50 to $5.35 per an ounce Standard gold moved in a narrow range and finished static at Rs 4,230 per 10 gm. so was gold .22 carat at Rs 3,915. Prices of gold biscuit (116.50 gm.) maintained at Rs 49,700 per piece. Seasonal demand was dull but thin supplies followed by firm dollar value kept offerings limited. In the global market told closed lower $297 to $291, finally settled down at $293.50 per an ounce.

Groundnut oilup

Groundnut oil spurted on the oil,oilseeds market here today. Castorseed and its oil bounced back in the ready delivery while prices were consolidating gains in the forward market.

Groundnut oil spurted by Rs 10 at Rs 462 per 10 kg amidst restricted offerings coupled with fresh seasonal demand.

In Rajkot it was rose from Rs 695 to Rs 705/710 per 15 kg. Heavy rains and cyclone in th Gujarat region had curtailed supplies of groundnut oil to the city market triggering buoyancy in the prices, one broker said.

Imported palm oil recovered by Rs 5 to Rs 382 per 10 kg. exclusive of tax on fresh bulk buying while offerings by importers were remained low due to soared dollar value against rupee. In the global market palm oil was quiet at $642.50 per tonne for ready delivery and $637.50/632.50 for forward delivery, it was learnt.

Castor oil climbed by Rs 3 at Rs 306/318 per 10 kg on fresh overseas demand while shippers were covering short position amidst upsurge in dollar value. Castorseed ready placedRs 15 higher at Rs. 1367/1373 per quintal.

In the futures section castorseed September delivery opened higher from Rs 1,407 but closed steady at Rs 1,401.50 as bulls book profit after early gains, according floor sources.

In Ahmedabad September delivery placed at Rs 1383 per quintal.

In Gujarat region inflow of castor oil dropped considerably on account of bad weather conditions, it was said.

Sugar betterA steady-to-slightly better trend prevailed on the sugar market in the wake of some what improved buying support.

M-30 ruled steady at Rs 1460-1505 a quintal ex-godown.

Other prices looked up by Rs 5 to 7. S-30 ruled at Rs 1443-1480 ex-godown. Ex-octroi checkpost, M-30 improved to Rs 1440-1450 and S-30 to Rs 1420-1430.

In tenders, M-30 were placed at Rs 1410-1415 and S-30 at Rs 1390-1395 in Kolhapur line.

Among imported sugar Pakistani sugar was quoted at Rs 1425 for out of the state deals.

Cotton steady

V-797 were placed at Rs 15,600-16,000, Morbi wagad at Rs 15,300-15,400 and kala-ginned at Rs 14,700-14,800 a candy spot. Sanker were placed in the range of Rs 17,000-22,300.

Among Punjab zone cottons, Bengal Deshi ruled at Rs 1620-1650, J-34 saw-ginned good average at Rs 2050-2120 and cart-selected at Rs 2200-2250 a maund.

Grains quiet

A steady condition was in evidence on the grains market. Volume of business was at a low ebb.

Wheat milling were placed at Rs 605-611 a quintal. Wheat Saurashtra Lokvan ruled at Rs 625-725, SW at Rs 750-900 and north Gujarat at Rs 615-675. Ganganagar wheat were traded at Rs 625-675.

Rice SLO were on offer at Rs 975-1000. Gujarat-17 rice were maintained at Rs 1300-1600. Permal medium ruled at Rs 850-950 and superiror at Rs 1100-1200.

Among pulses, green peas USA were placed at Rs 1550-1625, Canadian at Rs 1225 and white peas Canadian at Rs 1025-1030. Tur Myanmar 1998 andf 1997 were transacted at Rs 1811-1821 and at Rs 1700-1725. Australian gramwere dull at Rs 1100-1125.

Kabuli gram A-2 Mexican and Iranian found sellers at Rs 3000 and at Rs 2500-2800 respectively. B-2 ruled at Rs 2300-2400 and C-2 at Rs 1550.

DELHISteady-to-firm conditions were witnessed on Delhi grains and pulses market on Wednesday.

Wheat dara prices held steady at their previous close as daily arrival improved. Rice permal recorded a gain of Rs 10-15 at Rs 860-1000 a quintal on zooming demand from exporters and demand in sela permal was reported good from West Bengal and Bihar buyers.

Among pulses, daily arrival of new moong from U P was about 1500 bags, but prices revealed a firm tendency because of decline in output, consequently, new moong firmed upto Rs 1830 from Rs 1800 a quintal. Offtake in urad was reported poor.

Gram Rajasthani improved by Rs 5 at Rs 975 a quintal as daily arrival dipped.

Sugar steadyDemand in mill delivery sugar from local as well as Punjab operators was reported normal. Free sale sugar quota for Punjab mills was reportedless by about 8000 tonnes as compared to previous month.

Mill delivery sugar Mawana was traded at Rs 1440, Dauralla at Rs 1415, Modi at Rs 1460, Simbhauli at Rs 1400 and tax-paid Khatauli was traded at Rs 1492 a quintal.

Soaring trend persists in oils

In the absence of any concrete steps by the Govt. in the Union Budget to arrest soaring edible oils prices and despite fall in oilseeds production, consequently, major oils in edible section started scaling a new high.

Mustard oil expeller flared up by Rs 80 at Rs 4100, Sesame oil recorded a sharp rise of Rs 100 at Rs 4050, Sunflower oil shot up by Rs 80 at Rs 4080 and cottonseed oil flared up by Rs 50 at Rs 4100 a quintal. Mustard oil in tins moved upto Rs 640-680 from Rs 615-670 a tin and solvent refined groundnut oil climbed upto Rs 710 from Rs 700 a tin.

Tax-paid vanaspati in the market was quoted at Rs 695-770 a tin. In the wake lean supply season, most of the industrial oils flared up by Rs 25-100 a quintal.

Poppyseed scales newhighOn imposition of 8 per cent excise duty on branded spices, most of the spices, on the local market started climbing up.

Quality dry mango regsitered a sharp rise of Rs 1000 at Rs 12,000 a quintal and poppyseed of Ramganj scaled a new high at Rs 20,500, showing an unprecedented rise of Rs 1500 a quintal and Bareilly poppyseed spurted sharply by Rs 3500 at Rs 17,500 a quintal.

Turmeric, zeera and cinnamon prices, however, remained subdued while cardamom small, Kalaunji and betelnut revealed a firm tendency.

Among dry fruits, kishmish flared up by Rs 200-400 per 40 kgs. Cashew kernel revealed a firm tendency.

Bullion divergentDespite weak overseas advices, silver recorded a sharp spurt of Rs 100 while gold prices showed a declining tendency on Delhi bullion market on Wednesday.

In the absence of imported inflow on Tuesday, spot silver .999 on Tuesday evening climbed upto Rs 8000 from Rs 7850 a kg. but on Wednesday New York silver future dipped to 533 cents from 544 cents,consequently, prices reverted back to Rs 7950, still showing a sharp rise of Rs 100 a kg.

Silver weekly delivery, on unloading by the bulls, was down by Rs 25 at Rs 7775 a kg. Its high was fixed by the operators at Rs 7865 a kg.

Silver coins ruled firm at Rs 10,400-10,500 per 100 pieces.

Gold in London on Tuesday having touched $298 dipped to $293 an ounce on Wednesday morning, consequently, gold biscuit and standard mint gold, on weak London advices, dipped to Rs 4270 and Rs 4290, showing a fall of Rs 35-40 per 10 gram respectively.

Gold sovereign too dipped by Rs 25 at Rs 3500-3525 per 8 gram.

J-34 cotton spurts

Mosly counts in hank and cone yarn edged up by Rs 2-5 per bundle on the back of higher prices quoted by the millers coupled with increased demand from handloom and powerloom units.

In waste yarn, the market rose by Rs 1-2 per bundle on bullish trend in waste cotton. Hosiery yarn lacked offtake. Deshi and J-34 cotton marked up by Rs 45-55 per 40 kgs. on buoyant demand fromspinning mills.

Camphor slips

Due to tight supplies and better consumer demand, titanium dioxdie TTK, K. brand and RC-822 edged up by Rs 2 per kg. Sodium nitrite also edged up by Rs 50 per bag.

Caustic soda flakes, on the other hand, declined by Rs 5 per bag and camphor powder also slipped by Rs 2 per kg.

Tin ingot rises further

Following firm LME advices, tin ingot rose further by Rs 8 at Rs 368 per kg. The sharp rise in the metal was also because of the advanced deals made by the speculators.

Copper wire bar, rod and its wire edged up by Re. one per kg. Aluminium coil (30 gauge) on better demand edged up by Re. one per kg. and aluminium coil (36 gauge) moved up by Rs 3 at Rs 115-120 per kg. Aluminium wire bar, sheet cutting, utensils and wire scrap declined by 50 paise to Re. one per kg.

Lead ingot imported marked lower by Rs 2 at Rs 49 a kg. on stockists hoarding. Chadripital and brass sheet cutting edged up by Rs 1-2 per kg. on declined arrivals. Zinc slab slipped by 25 paiseper kg.