Silver .999 lifted up by Rs 165 at Rs 8,415 per kg. Silver .916 climbed by Rs 145 at Rs 8,300 per kg. Industrial demand was dull but poor supplies and upsurge in the world prices triggered specultive buying. Delhi advices were encouraging. Bullish overseas advices pushed import cost of the precious metals upward while local prices are still lower against import cost and in turn fresh arrivals were at a low ebb, dealers said. In the global market silver shot up from $5.68 to $5.83 per ounce. Hectic buying following news that stock of silver in the New York Commodity Exchange has hit its lowest level was attributed to the upsurge here.

Meanwhile standard gold ruled quiet at Rs 4,280 per 10 gm. So was gold .22 carat at Rs 3,960 per 10 gm. amidst limited trading. Prices of gold biscuit (116.50 gm.) however hardened by Rs 100 at Rs 50,450 per piece on stray physicalsupport ahead of Hindu festival season. In the global market the yellow metal looked firm at $294.65 as against $293.10 per ounce.

G'nut oil up

Oils and seeds spurted from the reduced level on the oil,oilseeds market here today. Castorseed and its oil improved further as fresh overseas enquiries triggered renewed short covering by bears and shippers.

Groundnut oil moved up by Rs 10 at Rs 500 per 10 gm. on fresh physical demand ahead of festival season while limited inflow kept offerings thin. In Rajkot it was steady at Rs 685 per 15 kg. Imported palm oil slid by Rs 2 at Rs 350 per 10 kg exclusive of tax on steady offerings coupled with weak global advices. August delivery was quoted lower at Rs 348 and September delivery was placed at RS 346 per 10 kg in the kerb trading. In the global market palm oil was week at $650 per tonne for nearby delivery and $632.50/620 per tonne for the forward deliveries, it was learnt.

Castor oil closed Rs 8 higher atRs 386/398 per 10 kg on continued overseasenquiries which triggered fresh covering by shippers. Fresh inflow however was at a low ebb. Castorseed ready shot up from Rs 1712/1718 to Rs 1751/1757 per quintal in sympathy. News that trading of castorseed at Rotterdum market was transacted at the record rate of $1020/1025 per tonne for Ex-Tank basis prompted rally in the city market. In the futures section castorseed September delivery rose from Rs 1602.50 to Rs 1618 before closing at Rs 1616.50 per quintal on sustained bull loading. But traders reported low volume in the trading ring. In Gujarat castorseed ready delivery climbed to Rs 339/340 per 20 kg. Castor oil finished higher at Rs 369/370 per 10 kg amidst limited offerings. And supplies of castorseed placed at 10,000 bags today.

Milling wheat down

Milling wheat price surrendered further ground on the grains market. Undertone in other inferior wheat was also easy. Elsewhere, a quietly steady trend prevailed.

On slack demand milling wheat price lost Rs 5 a quintal afresh at Rs 695-701.North Gujarat wheat average ruled at Rs 741-751, medium at Rs 765-775 and superior at Rs 800-825. Saurashtra Lokvan wheat were placed at Rs 775-850 and SW at Rs 900-1100. Rice Permal FCI and superior continued to be traded at Rs 850-900 and at Rs 1150-1250 respectively.

Among pulses, moong Myanmar ruled at Rs 1900-2000, green peas USA at Rs 1675 and Canadian inferiror at Rs 1141 and good quality at Rs 1171-1175.

Yarn steady

A quietly steady condition continued in viscose filament yarn (VFY) and nylons.

VFY bright cones first quality Century Rayon 150dn ruled at Rs 224, 120dn at Rs 245, 100dn at Rs 258 and 75dn at Rs 270 a kg.Nylon yarn Shreelon 15/1/0dn ruled at Rs 265 and 20/1/0dn at Rs 231.

Cotton declines

Easy trend continued on the cotton market following slack mill demand.Losing Rs 200 a candy V-797 were down to Rs 15,800-16,100, Morbi wagad to Rs 15,500-15,600 and kala-ginned to Rs 15,000-15,100 spot. Sanker ruled quietly steady in the range of Rs 19,000-22,800.

Punjab J-34saw-ginned good average at Rs 2000-2060, cart-selected at Rs 2190-2220 and Bengal Deshi at Rs 1600-1650 a maund were quiet. New crop Bengal Deshi is understood to have changed hands at Rs 1370 for October delivery.

Sugar subdued

A subdued trend was noticed in indigenous sugar while imported sugar ruled static.

Slack demand caused a dent of Rs 3 to 5 a quintal in the quotations of indigenous sugar. M-30 were on offer at Rs 1490-1528 and S-30 at Rs 1470-1488 ex-godown. Ex-octroi checkpost, M-30 were placed at Rs 1475-1490 and S-30 at Rs 1457-1470.

In tenders, M-30 at Rs 1440-1445 and S-30 at Rs 1420-1425 in Kolhapur line were unchanged.

Dubai sugar at Rs 1435 and incoming Pakistani sugar due by the month end at Rs 1430 plus tax were static.