Meanwhile in the kerb trading, gold prices recovered further on the back of festival buying coupled with firm overseas market. Prices of gold biscuit (116.50 gm.) were quoted Rs 300/400 higher at Rs 48,000/48,100 per piece in the kerb trading. Standard gold was quoted Rs 30 higher at Rs 4,100 per 10 gm. In the global market gold prices were placed from $275.50 to $278 per ounce.

Silver prices in the kerb deal ruled weak at Rs 7225/7250 per kg. against previous official closing of Rs 7,275 as stock of unsold silver in the city market prompted selling pressure. Silver was up by Rs 115 per kg on Monday. In the global market the white metal eased to $4.74/4.75 per ounce.

Groundnut oil extended losses on the oil, oilseeds market here today. Castorseed and its oil remained firm following continued covering by shippers coupled with acute shortage of ready stock at thefag end of the season.

Groundnut oil closed Rs 10 lower at Rs 588 per 10 kg amidst sluggish buying interest while brisk supplies followed by weak upcountry advices prompted profit-taking among local stockists. In Rajkot prices dropped to Rs 530/535 per 10 kg and Rs 810/815 per 15 kg. it was learnt.

Imported palm oil slid by a rupee to Rs 374 per 10 kg exclusive of tax amidst demand resistance while fresh inflow at Mumbai port prompted light profit-taking by importers. In the global market palm oil remained firm at $720 per tonne for spot delivery and $690/680 per tonne for forward delivery, it was learnt.

Castor oil gained by Rs 10 at Rs 505/517 per 10 kg on fresh covering by shippers coupled with thin supplies. In Rotterdum market it was quoted firm at $1200 per tonne. Castorseed ready shot up by Rs 48 to Rs 2,322/2,328 per quintal.

In the futures section castorseed December delivery climbed from Rs 1,860 to Rs 1,873 before concluding at Rs 1,868 per quintal on renewed bull support.

In AhmedabadDecember delivery placed higher at Rs 1,927 per quintal. In the Gujarat region castorseed spot delivery quoted at Rs 445/450 per 20 kg. Castor oil climbed to Rs 492/493 per 10 kg.