Groundnut oil edged up by Rs 2 to Rs 595 per 10 kg on thin supplies and acute shortage of ready stock. Buying interest however was dull. In Rajkot groundnut oil quoted Rs 25 lower at Rs 860 per 15 kg.

Imported palm oil lifted from Rs 389 to Rs 392 per 10 kg exclusive of tax on fresh bull buying ahead of festivals coupled with firm global markets. In the overseas market palm oil placed higher at $735 per tonne while long deliveries were quoted lower at $690/675 per tonne.

Castor oil closed Rs 5 lower at Rs 457/469 per 10 kg in absence of overseas enquiries. Castorseed ready dropped by Rs 24 to Rs 2092/2098 per quintal on unloading by stockists and farmers ahead of new crop supplies, according to dealers.

In the futures section castorseed December delivery moved down from Rs 1789 to Rs 1763 per quintal on bull liquidation. Weak Ahmedabad advices also influenced thesentiment of the market.

In Ahmedabad December delivery declined from Rs 1,780 to Rs 1,757 per quintal. In Gujarat castorseed ready delivery quoted lower at Rs 390/395 per 20 kg. Castor oil was down at Rs 440 per 10 kg.

Bullion declines:

Both the precious metals ruled weak at the improved level on the bullion market here today.

Silver .999 slipped by Rs 100 to Rs 7,450 per kg. In the ready section silver .916 fell by Rs 95 to Rs 7,345 per kg. Industrial and festival demand was at a low ebb and continued overseas inflow coupled with weak overseas advices prompted profit-taking. Delhi was weak and in the global market the white metal declined from $5.01 to $4.91 per ounce.

Meanwhile standard gold reacted by Rs 25 to Rs 4,245 per 10 gm. Gold .22 carat eased by Rs 25 to Rs 3,925 per 10 gm. in sympathy. Prices of gold biscuit (116.50 gm.) nosedived by Rs 400 as prices dipped to Rs 49,900 per piece. Demand resistance from the seasonal buyers capped the rally while setback in the world market putpressure on the local market, it was learnt. In the global market gold finished lower from $292.50 to $288.95 per ounce.