New York silver future in running having moved up to 520 cents from 511 cents came down to 517 cents an ounce and in the absence of inflow of imported silver on Tuesday because of Holiday, consequently, spot silver .999 fineness climbed up from Rs 7720 to Rs 7805 and silver weekly delivery, on hectic speculative buying recorded a sharp rise of Rs 85 at Rs 7785 a kg.

Silver coins also flared up by Rs 100 at Rs 10,500-10,700 per 100 pieces in sympathy.

On firm London advices and in the absence of fresh inflow of imported gold on Tuesday, gold biscuit and standard mint gold improved by Rs 10 at Rs 4350 and Rs 4360 per 10 gram, respectively while gold sovereign remained unchanged at Rs 3750-3775 per 8 gram.

Mumbai: Silver prices rallied smartly on the bullion market here on Wednesday on heavy industrial demand for the marriage season amidst poor supplies. Bullish overseas advices aided theuptrend.

Silver ready .999 fineness shot up to Rs 7975 from Rs 7865. Raw silver .916 fineness flared up to Rs 7850 from Rs 7725. Tenderable silver hardened to Rs 7980 from Rs 7870 previously.

Gold prices improved on seasonal buying as against inadequate stocks position. Standard gold firmed up by Rs 20 to Rs 4410 and 22-carat gold was quoted higher by Rs 20 at Rs 4080 from the last close of Rs 4390 and Rs 4060, respectively. Kabligram tumbles Steady-to-weak conditions prevailed at the local grains and pulses market on Wednesday.

Daily arrival of wheat from the neighbouring states at local Lawrence Road went up to 10-12,000 bags, consequently, wheat dara slipped from Rs 587-595 to Rs 575-590 a quintal and roller flour mill atta, maida and suji marked down by Rs 5-15 per bag due to sluggish demand from upcountry buyers. On satisfactory supply position from Bihar and UP, maize slipped by Rs 10-15 a quintal while barley revealed a firm tendency due to hoarding tendency. Among pulses, kabligram of Dabraline tumbled down by Rs 50-100 a quintal as demand from local as well as upcountry buyers remained poor. Gram slipped by Rs 10-25 a quintal due to lack of buying by the stockists.

Sesame oil shoots up
Despite weak Malaysia advices, mustard, soyabean and cottonseed mill delivery oils in edible section moved up by Rs 20-50 a quintal on hectic buying by the stockists as well as speculators. Sesame oil shot up by Rs 200 at Rs 6500 a quintal amidst tight supply position.

Palmolein in Mumbai was priced at Rs 3000 and on the local market ruled easy at Rs 3400 a quintal. Mustard slipped by Rs 15 a quintal on improved supply while vanaspati revealed a firm tendency.

Mumbai: Groundnut oil softened further while palm oil and linseed oil dropped sharply in a weak oilseeds market here on Wednesday. However, castorseeds futures ruled better.

Among edible oils, groundnut oil softened in the wake of increased arrivals. Imported palm oil dropped sharply due to heavy supplies through imports.

Amongindustrial oils, linseed oil slumped in the absence of inquiries from the paint industry. Castorseeds and its oil ruled steady in stray deals.

In the futures market, castorseeds June contract opened lower at Rs 1590 on overnight selling. Later, prices rallied smartly and posted handsome gains on shortcovering to settle at Rs 1598, up by Rs 5 from the last close of Rs 1593.

Groundnut oil weakened to Rs 396 from Rs 398. Palm oil slumped to Rs 300 from Rs 309. Linseed oil dropped sharply to Rs 340 from Rs 348 previously. Linseeds ready at Rs 1700, castor oil commercial at Rs 350 and castorseeds ready Madras at Rs 1584 remained unaltered from the previous close.

Sugar rises
UP sugar and khandsari was mostly being consumed in the state itself as there was paucity of PDS sugar. Consequently, new mill delivery sugar, on the local market moved up from Rs 1370-1550 to Rs 1405-1555 a quintal. Gajroula sugar was traded at Rs 1405, Ram-Luxman at Rs 1417, Modi, Tetabi and Dauralla at Rs 1450-1455 andMawana at Rs 1555 a quintal. Spot sugar and khandsari also revealed a rising tendency.

Kalaunji slides
Turmeric, on the local market, flared up by Rs 100 at Rs 2400-3900 a quintal on firm producing centres advices. Branded tea dipped by Rs 5-15 at Rs 140-195 a kg due to mutual competitions. Green Label tea slipped by Rs 15 at Rs 315 a kg.

On consistent inflow of new crop goods from Kanpur, kalaunji slided down by Rs 200 a quintal while methi and poppyseeds recorded gains on firm Madhya Pradesh advices.

Among dry fruits, almond California and its kernel and small copra showed a declining tendency as wedding demand remained sluggish. Bold grain cashew kernel also slipped by Rs 5-10 a kg due to sluggish demand.