New York silver future slipped to 509 cents from 512 cents an ounce coupled with importers selling, spot silver .999 fineness slumped by Rs 50 at Rs 7775 a kg. and silver weekly delivery, on unloading by the bulls, tumbled down by Rs 60 at Rs 7825 a kg.

Upcountry demand in silver remained poor. Silver coins remained unchanged at Rs 10500-10700 per 100 pieces.

Gold in London slipped by $ one to $284.50 an ounce, consequently, gold biscuit slipped by Rs 25 at Rs 4275 and standard mint gold marked down by Rs 20 at Rs 4290 per 10 gram. Gold sovereign remained unchanged at Rs 3500-3525 per 8 gram.

Mumbai:Gold prices reacted sharply while silver dipped further on the bullion market here today. Standard gold fell by Rs 20 to Rs 4,250 per 10 gm. Gold .22 carat reacted by same margin at Rs 3,930 per 10 gm. Prices of gold biscuit (116.50 gm.) nosedived by Rs 300 to Rs 49.500 per piece.

Seasonal demand petered out at higher level while setback in dollar value against rupee and weak trend in the international market promted profit-taking. In the global market gold slid to $284.55 per ounce.

Silver .999 dropped by Rs 100 at Rs 7,790 per kg. In the ready section silver .916 fell by Rs 90 at Rs 7,680 per kg in sympathy. Industrial and festival demand was dull while fresh overseas inflow followed by weak Delhi advices put fresh pressure on the bullion market here. In the global market the white metal place higher at $5.14/5.15 per ounce.

Moong tumbles

Wheat and products ruled firm, moong and gram declines at the Delhi grains and pulses market on Thursday.

Inflow of about 10-11,000 bags of wheat from producing mandies of UP at Lawrence Road mandi, wheat dara held steady at Rs 615-625 a quintal and arrival of wheat at Najafgarh and Narela mandies was reported about 2000-3000 bags from Haryana.

On strong demand from West Bengal, Bihar, Coimbatore, Trichur etc. upcountry centres, suji recorded a sharp rise of Rs 30 at Rs 740 per bag and maida firmed up by Rs 5 at Rs 700 per bag. Roller flour mill atta edged up by Rs 5 at Rs 610 per bag on good demand from Maharashtra and Karnataka.

Two trucks of new moong arrived from Ahmednagar on Wednesday, which was traded at Rs 2200 a quintal. However, quality moong slumped to Rs 1950 from Rs 2100 a quintal. Gram Rajasthani slipped by Rs 20 at Rs 1280 a quintal on inflow of about 6-7000 bags from Rajasthan coupled with slack demand. Business in other pulses remained sluggish due to tight money market conditions.

Castor oil flares

Arrivals from the producing centres were hit hard for fear of samples, consequently, there was no stock of pakki ghani mustard oil in tins while kachi ghani mustard oil firmed upto Rs 795 from Rs 745 a tin.

Groundnut oil in Mumbai flared up by Rs 100 at Rs 5750 a quintal as a result, its nominal rates on the local market were quoted at Rs 5700 against Rs 5450 a quintal.

Palmolein in Malaysia ruled firm at $680 a tonne. Its prices here in tankers, were quoted at Rs 4000 a quintal and in tins, it was priced at Rs 630 per tin. NDDB procured mustard oil on Wednesday at Rs 4640-4680 a quintal.Among industrial oils, castor oil was up by Rs 50 at Rs 4325 and neem oil flared by Rs 75 at Rs 2600 a quintal due to poor crop prospects.

Mumbai:Groundnut oil hardened and touched to new peak level on the oil,oilseeds market here today. Castorseed and its oil also extended gains on the back of fresh overseas demand.

Groundnut oil rose by Rs 10 at Rs 575 per 10 kg amidst thin offerings followed by acute shortage of ready stock and steady seasonal demand. Imported palm oil edged up by Rs 3 at Rs 365 per 10 kg. exclusive of tax on renewed bull interest coupled with firm overseas advices. In the global market palm oil quoted $10 higher at $685 per tonne for spot deliveries and forward deliveries were placed at $665/655 per tonne. Castor oil jumped up by Rs 12 to Rs 457/469 per 10 kg on renewed overseas demand. Castorseed ready gained by Rs 58 at Rs 2092/2098 per quintal owing to poor supplies, acute shortage of ready stock at the fag end of the season.

In the futures section castorseed December delivery advanced by Rs 30 to Rs 1864 per quintal on steady bull buying. Absence of third round of rain fall in the producing centres also triggered short covering by bears and shippers, floor sources said. Maturing September delivery was remained absent from trading ahead of delivery period.

Sugar slips