World gold demand as per World Gold Council in the first three months of current fiscal year ending June was up by 16 per cent and touched 810 tonnes mark, but according to Ahmedabad and Mumbai bullion traders, domestic demand was reported poor. Gold in London dipped from $261.75 to $259.35 an ounce, consequently, gold biscuit and standard mint gold dipped by Rs 20 at Rs 4080 and Rs 4090 per 10 gram, respectively while gold sovereign held steady at Rs 3625-3650 per 8 gram.

New York silver future dipped from 526 cents to 521 cents an ounce, spot silver .999 fineness plummeted by Rs 40 at Rs 7935 a kg and silver weekly delivery, on unloading by the bulls, went down by Rs 40 at Rs 7935 a kg.Silver coins remained unchanged at Rs 10,500-10,700 per 100 pieces.

Mumbai: Both the precious metals suffered losses at the improved level on the bullion market here today. Standard golddeclined by Rs 25 at Rs 4,120 per 10 gm. Gold .22 carat was down by same margin at Rs 3,810 per 10 gm. in sympathy. Prices of gold biscuit (116.50 gm.) slipped by Rs 200 at Rs 48,200 per piece.

However, in the parralal market they were quoted lower at Rs 47,700 per piece for cash payment, according to market sources. Demand capped the recovery while weak global advices triggered profit-taking by stockists and local bankers here. In the global market the yellow metal eased from $261.95 to $257.70 per ounce. Sharp upsurge in dollar value against rupee however had failed to cheer up the market sentiment, dealers said.

Meanwhile silver .999 reacted by Rs 35 at Rs 8,115 per kg. Silver .916 was down by Rs 20 at Rs 7,980 per kg in sympathy. Industrial buyers were kept sidelined at the improved level as continued supplies of raw silver from local sources put pressure on the market. Overseas supplies however remained at a low ebb as hardly 140/150 kg. of silver were traded during the day. In the overseas marketthe white metal reacted from $5.25 to $5.17 per ounce.

Edible oils spurt

Palmolein in Malaysia further moved up from $417.50 to $425 a tonne, consequently, oils in edible section, continued to scale a new high. Groundnut, mustard, sesame, soyabean and sunflower oils recorded a sharp rise of Rs 50-100 a quintal.

Tax-paid vanaspati of a local mill moved up from Rs 590 to Rs 600 a tin. In the past 10 days, mustard oil moved up from Rs 3300 to Rs 4100, groundnut from Rs 4150 to Rs 4500 and sunflower oil shot up from Rs 2500 to Rs 3100 a quintal.

Among industrial oils, mahuwa, linseed and neem oils went up by Rs 50-100 a quintal due to restricted offerings from MP and UP.

Mumbai: Groundnut oil extended gains on the oil,oilseeds market here today. Castorseed and its oil remained firm in the ready delivery while prices ruled divergent in the forward market.

Groundnut oil closed Rs 5 higher at Rs 410 per 10 kg. Tight supplies and news of poor rainfall in the producing centers of Gujarat attributedto the upsurge in the prices. In Rajkot prices ruled steady at the improved level of Rs 640 per 15 kg.

Imported palm oil held at the improved level of Rs 265 per 10 kg amidst tight supplies, but demand was dull at higher level. In the international market palm oil recovered from $415 to $432.50 per tonne for nearby delivery and long deliveries were quoted higher at $435 per tonne.

Castor oil spurted by Rs 11 at Rs 417/429 per 10 kg as rally in the dollar value triggered fresh overseas enquiries, according to traders. Castorseed ready moved up by Rs 5 at Rs 1929/1935 per quintal.

In the futures section castorseed September delivery declined from Rs 1,921 to Rs 1,904 per quintal on unloading pressure. December delivery moved up from Rs 1,881 to Rs 1,885 per quintal but volume of transactions were limited.

In Ahmedabad September delivery finished lower at Rs 1,866 and in Rajkot at Rs 1,894 per quintal. Traders reported arrivals of castorseed around 16000/17000 bags in the Gujarat region.

In theinternaetional castor oil forward market October delivery ruled queit at Rs 420 and December delivery placed at Rs 364 per 10 kg.

Pulses further up

Pulses prices, at the local grains and pulses market continued their upward march on Thursday while grains prices revealed an easy tendency.

On zooming demand from West Bengal, Bihar and Nepal buyers, arhar and its dal recorded a sharp rise of Rs 75-200 a quintal. Quality arhar of Maharashtra flared up by Rs 100 at Rs 2200 and superior dal arhar Patka shot up by Rs 200 at Rs 3000 a quintal. In view of firm dollar, deals for import of arhar were not contracted.

Small kabligram and Maxican went up by Rs 25-50 a quintal as new crop in Turkey was hit hard due to earthquake. Rising tendency in masoor and gram was arrested while urad rangoon climbed up by Rs 35 at Rs 1825 a quintal due to paucity of ready stock.

Daily arrival of new rice from Haryana went up to 12,000 bags coupled with slack demand from eastern Indian buyers, rice permal slipped by Rs10-15 at Rs 890-1165 a quintal. However, red maize firmed up by Rs 15 at Rs 705 a quintal due to restricted.

Nutmeg firm

Following raids on the cold storages, ample stock of nutmeg and mace was sealed by the sales tax officials, as a result, their prices, firmed up by Rs 10 a kg. Sheetal chini edged up by Rs 10 at Rs 405 a kg, on better demand while business in turmeric and zeera remained dull.

Among dry fruits, pistachio Hairati looked up by Rs 5 at Rs 440 a kg on demand from halwais.

Sodium hydro sulphite drifts lower

Stockists continued profit-taking sales build further pressure on menthol products and prices declined further.

Menthol flake, bold and old fell by Rs 30-50 to Rs 950, Rs 1025 and Rs 700 per kg. Resin black, red and yellow lost ground by Rs 10 per tin due to excess inflow and poor offtake.

Sodium hydro sulphite of China drifted lower from Rs 56 to Rs 54.50 per kg whereas sodium hydro sulphite Kalali and safolite edged up by a Re one at Rs 62 and Rs 75 per kg onlimited supply.