Gold biscuit (116.50 gm.) closed Rs 300 lower at Rs 48,700 per piece. Seasonal demand was petered out on account of conclusion wedding season while weak overseas advices prompted renewed selling by local stockists. In the global market gold finished $2 lower at $286/286.50 per an ounce.

Silver .999 declined by Rs 5 to Rs 7,670 per kg. amidst sluggish industrial demand. Silver .916 moved in a narrow range and closed steady at Rs 7,545 per kg.

In Delhi silver forward delivery slide to Rs 7,715/7,720 and ready delivery was quoted at a discount of Rs 15/20 per kg. against forward delivery. In the global market the white metal slide from $5.20 to $5.16 per an ounce.

Oil, oilseeds down

Groundnut oil receded on the oil,oilseeds market here today. Castorseed and its oil maintained in the readydelivery while prices bounced back in the forward market.

Groundnut oil edged down a rupee at Rs 462 per 10 kg. on sluggish demand. In Rajkot prices fell by Rs 5/10 to Rs 695/700 per 15 kg on news that traders and millers in the Gujarat region were decided to observe voluntary price ceiling following recent cyclone.

Imported palm oil held at Rs 383 per 10 kg exclusive of tax on nominal transaction but undercurrent was firm as clearance of imported cargo were affected at Mumbai port due to strike by agents, it was learnt.

Castor oil placed quiet at Rs 306/318 per 10 kg on stray overseas enquiries. Castorseed ready maintained at Rs 1367/1373 per quintal.

In the futures section castorseed September delivery moved up from Rs 1397.50 to Rs 1404.50 per quintal on fresh bull interest following renewed overseas support coupled with drop in the arrivals of castoreed in cyclone-hit Gujarat region. June delivery remained absent from trading during the week.In Ahmedabad September delivery closed firm at 1389.50.Ready delivery was unchanged at Rs 267 per 20 kg. Arrivals of castorseed in the Gujarat region placed around 20000/25000 bags, it was said.

Grains firm

A firm trend developed on the grains market following tight supply in wheat and rice, while imported pulses hardened in the wake of weakness in rupee exchnage rate raising the landed cost in the process.

Milling wheat price moved up sharply by Rs 20 a quintal at Rs 625-631 on very limited stocks coupled with active roller flour mill demand triggered by firmness in flour price. Other wheat price also hardened by Rs 25 to 30 in sympathy. Extra superior materials were up by Rs 100 on extreme paucity. Thus,Suarashtra Lokvan were up at Rs 655-750, SW at Rs 750-1000, north Gujarat at Rs 635-750, MP 147 at Rs 750-1100 aand Sarbati at Rs 900-1400.

Rice arrivals were thin and were mainly from Punjab. Punjab Sarbati and Tericot rice were traded at Rs 1000-2000 and at Rs 1700-1800 respectively. Karnataka BT rice were quoted at Rs 1000-1100. SLO were indemand at Rs 1000-1075.

Among pulses, green peas USA at Rs 1675-1700 and tur Myanmar 1998 at Rs 1900 and 1997 at Rs 1800 shot up by Rs 75. Urad Myanmar moved up by Rs 20 at Rs 1211-1221. Green peas Canadian at Rs 1235 improved by Rs 10. Only Australian gram declined by Rs 50 at Rs 1050-1100 in the wake of competition from the domestic goods. Other items ruled steady.

Sugar better

Sugar price firmed up as demand turned active. Gaining Rs 10 a quintal, M-30 rose to Rs 1475-1520 and S-30 to Rs 1460-1480 ex-godown. Ex-octroi checkpost, M-30 were in demand at Rs 1460-1470 and S-30 at Rs 1440-1450. Pakistani sugar superior fetched Rs 1430 and inferior Rs 1425.

Cotton improves

A firm trend was in evidence in Gujarat cottons on reserved selling.

Prices looked up by Rs 100 to 200 a candy. V-797 were up at Rs 15,800-16,200, Morbi wagad at Rs 15,400-15,500 and Kala-ginned at Rs 15,000-15,100 spot. Sanker ruled in the range of Rs 17,200-22,500.

In Punjab zone, Bengal Deshi were placed at Rs1625-1660 a maund, up by Rs 5. J-34 saw-ginned good average at Rs 2050-2125 and cart-selected at Rs 2200-2250 were steady.

Yarn subdued

A dull-to-subdued trend prevailed on the yarn market following dull offtake.Viscose filament yarn bright cones first quality Century Rayon 150dn shed a rupee per kg at Rs 224. 120dn dull cones were down by Rs 2 at Rs 252. 120dn bright were slightly better at Rs 245. 100dn at 258, 75dn at Rs 270 as all the coarse deniers were steady. Undertone, however, improved as the supply from Indian Rayon were hit due to cyclone.

Nylon yarn Shreelon 15/1/0dn and 20/1/0dn were unchanged at Rs 265 and at Rs 235 respectively.