Groundnut oil solvent refined of Hyderabad was quoted at Rs 980 a tin. Sunflower oil of Punjab at a few shops was quoted at Rs 750 a tin. Palmolein in Malaysia improved to $ 735 from $ 732 a tonne, consequently, on support from vanaspati and refining millers, sunflower and cottonseed oils flared up by Rs 50-100 a quintal.

Mumbai: Groundnut oil declined further on the oil,oilseeds market here today. Castorseed and its oil suffered losses at higher level. Groundnut oil fell by Rs 5 to Rs 565 per 10 kg amidst sluggish demand while stockists were seen active sellers on news of commencement of new crop arrivals in the Saurashtra region of Gujarat state, it was learnt.

In Rajkot groundnut oil quoted lower at Rs 840/845 per 15 kg. Groundnut new crop arrivals has commenced in the Saurashtra region and will pick up by nextmonth, according to the president, Bombay Oil Exchange.

Imported palm oil closed Rs 2 lower at Rs 375 per 10 kg exclusive of tax amidst sluggish demand, fresh inflow at Mumbai port and weak trend in world market. In the global market palm oil fell by $5 to $730 per tonne. Forward deliveries were quoted lower at $710/670 per tonne.

Castor oil reacted by Rs 9 to Rs 535/547 per 10 kg as export demand petered out. Castorseed ready dropped by Rs 48 to Rs 2,466/2,472 per quintal in sympathy.

In the futures section castorseed December delivery reacted from Rs 1,928 to Rs 1,898 per quintal as weak Ahmedabad advices prompted bull unloading. Today there was no trading in September delivery. In Ahmedabad castorseed December delivery declined to Rs 1,983.50 and in kerb deal it was quoted lower at Rs 1,976/1,977 per quintal.

Silver coins rise

In the wake of mutual buying and selling among the traders, both the precious metals, at the Delhi bullion market recorded a hefty rise on Friday.

Despite inflowof about 10,000 kgs. of imported silver, spot silver .999 in the beginning shot upto Rs 7652 from Rs 7460 a kg. on good demand from Calcutta as well as neighbouring states buyers, but after, on importers selling, plunged to Rs 7565 and at noon climbed upto Rs 7600, showing a sharp spurt of Rs 140 a kg.

Silver weekly delivery, on speculative buying and selling bouts, flared up by Rs 125 at Rs 7600 a kg. Silver coins also recorded a sharp rise of Rs 100 at Rs 10,900-11,100 per 100 pieces.

Gold, on the overseas markets, moved upto $ 294.25 from $ 286.25 an ounce, consequently, standard mint gold recorded a sharp spurt of Rs 100 at Rs 4325 per 10 gram and gold biscuit shot up by Rs 95 at Rs 4310 per 10 gram.

In sympathy with gold, gold sovereign firmed up by Rs 25 at Rs 3500-3525 per 8 gram.

Mumbai: Gold and silver prices spurted sharply on the back of rally in the world prices on the bullion market here today. Prices of gold biscuit (116.50 gm.) hardened by Rs 1000 as it crossed Rs 50,000-markto settle at Rs 50,300 per piece. Gold .22 carat rose by Rs 65 to Rs 3,935 per 10 gm. and standard gold climbed by Rs 70 to Rs 4,255 per 10 gm. Physical buying for gold increased ahead of festival while eased supplies and bullish overseas advices kept offerings limited. Speculators also returned to bullion market looking to the rally after switching over their interest from the sluggish stock market, according to a leading dealer. Meanwhile silver .999 extended gains by Rs 145 at Rs 7,625 per kg after gaining Rs 100 on Thursday.

Likewise silver .916 climbed further by Rs 120 to Rs 7,500 per kg in sympathy. Seasonal and industrial demand for silver continued while absence of fresh inflow and bullish global market prompted fresh buoyancy in the local market. Delhi was firm and in the overseas market silver prices placed at $5.06 as against $4.97 per ounce earlier.

Saffron scales new high

Black pepper Golden, on the local spices market crashed by Rs 800 at Rs 21,000 a quintal.

Saffron Kashmiriscaled a new high at Rs 40,000, registering a sharp spurt of Rs 2000 a kg. Tamarind slumped by Rs 50 a quintal due to weak demand from Eastern India.

Nickel plate down

Most of the non-ferrous metals moved lower because of unloading by the stockists. Zinc slab, nickel plate and tin ingot fell by Rs 2-3 at in the absence of industrial buying and continued stockists off-loading.

Copper wire bar, rod, wire, aluminium wire bar and its rod also eased by 50 paise to Re. one per kg. whereas due to dwindling inflow, brass boring, brass accessories, Bharat scrap, copper utensils, and wire scrap edged up by 50 paise per kg.