Seasonal demand was lower than expected but tight supplies kept offerings limited. In the global market gold slid from $296.30 to $295.75 per ounce as dollar prices looked up against rupee at Rs 42.42.

Meanwhile silver reacted by Rs 5 to Rs 7,475 per kg. In the ready section silver .916 was down by same margin to Rs 7,340 per kg in sympathy. Demand was dull as traders reported fresh arrivals of 800/1000 kg of imported silver in the city market today. Delhi was subdued and in the global market the white metal maintained at $4.92 per ounce.

G'nut oil edges up

Groundnut oil looked up modestly on the oil,oilseeds market here today. Castorseed and its oil on the otherhand eased further in the wake of rising new crop arrivals, according to dealers.

Groundnut oil edged up by a rupee to Rs 456 per 10 kg amidst tight supplies. Buying interest however remained sluggish. In Rajkot it was quiet at Rs 650 per 15 kg. Imported palm oil closed a rupee lower at Rs 355 per 10 kg on sluggish demand followed by weak trend in the world market. In the overseas market palm oil placed lower at $685 for nearby delivery and $677.50/680 for long delivery per tonne.

Castor oil fell by Rs 3 to Rs 412/426 per 10 kg. Lack of overseas interest is attributed to the setback. Castorseed ready declined by Rs 14 to Rs 1876/1882 per quintal on hectic offerings. New crop arrivals of castorseed in the Gujarat region placed around 9000/10000 bags, it was learnt.

In the futures section castorseed December delivery slipped from Rs 1673 to Rs 1653, finally closed the day at Rs 1655 per quintal on fresh bull liquidation following continued arrivals.

In Ahmedabad December delivery closed lower at Rs1710.50 and in Rajkot at Rs 1653.50 per quintal. In Gujarat castorseed ready delivery reacted to Rs 340/345 per 20 kg while castor oil was down at Rs 395 per 10 kg.

Sugar steady

A steady trend prevailed on the sugar market. Activity was modest.M-30 were placed at Rs 1440-1510 and S-30 at Rs 1425-1465 a quintal ex-godown. Ex-octroi checkpost, M-30 were on offer at Rs 1430-1445 and S-30 at Rs 1405-1425. Imported sugar Dubai were on offer at Rs 1420 and Pakistan at Rs 1425 inclusive of sales tax.

In tenders, M-30 were indicated at Rs 1380-1390 and S-30 at Rs 1360-1370 in Kolhapur line.

Milling wheat ends lower

Milling wheat price eased further while other items ruled listless on the grains market following slack demand.

Wheat milling receded further from Rs 750 to Rs 740-745 a quintal. Among other wheat, north Gujarat Tukadi were on offer at Rs 790-825 and 496 at Rs 800-850. Saurashtra Lokvan were traded at Rs 790-825 and SW at Rs 800-975.

MP 147 and Sarbati were transacted at Rs800-850 and at Rs 900-1300 respectively.

Rice Permal Punjab were quoted at Rs 850-1050. Superior Permal fetched Rs 1200-1300. Gujarat-17 new and old were transacted at Rs 1650-1700 and at Rs 1800-1850 respectively.

Among pulses, green peas USA were placed at Rs 1625 and Canadian at Rs 1075. White peas Canadian ready ruled at Rs 940-950 and November/December shipments at Rs 925. Moong Mynamar were mentioned at Rs 1850 and Chinese at Rs 1950-2000.

Cotton subdued

A dull-to-slightly subdued trend prevailed on the cotton market despite low Punjab arrivals as the mill demand remained very restricted.

Arrivals in the northern region consisted of 3000 bales of Bengal deshi and 8000 bales of J-34. The price eased by Rs 5 to 10. Ready Bengal deshi roller-ginned were placed at Rs 1565-1600, J-34 saw-ginned good average at Rs 1745-1860 and cart selected at Rs 1785-1955 spot.

Sanker were quoted in the range of Rs 18,500-19,800 a candy and V-797 at Rs 16.100-16,500.

Meanwhile, the Maharaashtrafederation has cut the price of its old crop H-4/MECH-1 by Rs 500, LRA by Rs 400 and AHH/DHY/NHH by Rs 800 a candy. The federation is said to be nursing a total stock of 7 lakh bales of old cotton.Yarn down

A dull-to-easy trend was in evidence on the yarn market.Although the power situation in Bhiwandi has marginally improved there has not been significant rise in the production due to none-too-happy situation in the fabrics narket. The powerloom capacity utilisation were down by 40 per cent. Besides, continued search by the tax authorites also affected the sentiment. Thus the prices remained subdued.

Polyester yarn grey first quality of medium-sized units 80dn weft at Rs 73-74 and warp at Rs 84-85 a kg shed Rs 2 to 3. Rotoset were static at Rs 80-81 but micro rotoset declined from Rs 90 to Rs 87-88. Only 80/1000dn and 80/1400dn were maintained at Rs 117-118 and at Rs 127-128 respectively on somewhat better buying support and restricted supply.150dn weft were on offer at Rs 60-61, warp at Rs 70-71,single roto at Rs 64-65 and double roto at Rs 67-68.