Standard gold moved up by Rs 5 at Rs 4,665 per 10 gm. Gold .22 carat was up by same margin at Rs 4,315 per 10 gm. in sympathy. Prices of gold biscuit (116.50 gm.) rose by Rs 50 at Rs 54,650 per piece. Traders reported moderate physical enquiries for gold ahead of wedding season while tight overseas supplies kept offerings limited. In the global market however gold slid by 60/65 cents at $298 per ounce ahead of the scheduled auction of 25 tonnes of gold by Bank of England from its reserve. The scheduled auction will be on Monday, it was learnt.

Meanwhile silver .999 recovered by Rs 5 at Rs 8,130 per kg. Silver .916 gained by Rs 10 at Rs 8,010 per kg. Industrial demand for silver was slow but seasonal buying coupled with shortage of ready stock at higher level and firm Delhi advices kept silver firm. In the global market the white metal ruled steady at $5.19/5.20 per ounce.

Sugar loses ground
Sugar price lost ground following reports of an additinal free sale release for the state.

The reports of fresh free sale release of 30,000 tonnes for sales upto 24th of December for Maharashtra caused a fresh wave of offerings turning previous day's rally short-lived. Ex-octroi checkpost, the price lost Rs 8 to 10 a quintal as M-30 were on offer at Rs 1410-1420 and S-30 at Rs 1385-1395. Ex-godown, M-30 ruled at Rs 1430-1487 as against Rs 1437-1500 while S-30 were placed at Rs 1413-1435 as against Rs 1415-1435.

Tenders have been over. But delivery orders were down by Rs 10 as M-30 were placed at Rs 1350-1360 and S-30 at Rs 1335-1340 in Kolhapur line.

G'nut oil maintains
Groundnut oil closed steady at the reduced level on the oil,oilseeds market here today. Castorseed and its ruled firm in the ready delivery and prices suffered losses at the improved level in the forward market. Groundnut oil maintained at Rs 355 per 10 kg amidst eased supplies but demand was slow ahead of fag end of the month. In Rajkot prices recovered from Rs 600 to Rs 615/620 per 15 kg, it was learnt.

Imported palm oil declined by a rupee to Rs 208 per 10 kg in absence of upcountry support. In the global market palm oil held at $375 per tonne for the nearby delivery but long deliveries were placed $5 lower at $373.50 per tonne, it was learnt.

Castor oil moved up by Rs 2 at Rs 373/385 per 10 kg. Castorseed ready placed Rs 10 higher at Rs 1709/1715 per quintal. Fear of decease in the new crop had prompted covering by shippers, dealers said. In the future market however castorseed March delivery reacted from Rs 1739 to Rs 1724 per quintal on light bull liquidation at higher level. Maturing December delivery remained absent from trading today. Castorseed February delivery quoted lower at Rs 1705 in Ahmedabad and at Rs 1699 per quintal in Rajkot, it was gathered. In the international castor oil future market the trend was steady as both December and February deliveries remained unchanged at Rs 378 and Rs 383 per 10 kg respectively.

Grains steady
A quietly steady condition prevailed on the grains market.

Wheat milling deshi were on offer at Rs 765-770 a quintal. French wheat were placed at Rs 625 ex-dock. North Gujarat Sonaklyan at Rs 800-825, Tukadi at Rs 830-840 and 496 at Rs 875-881 were unchanged. Wheat MP 147 ruled at Rs 875-925 and Sarbati in the range of Rs 950-1300.

Rice Perimal new ruled at Rs 950-975 and superior at Rs 1200-1300. AP Kattar were on offer at Rs 1025-1050. Basmati new were placed at Rs 3000-3500 and old at Rs 4500-5500.

Green peas Rumba/Heart were placed at Rs 1400 and Canadian at Rs 1050. Moong Myanmar were traded at Rs 1525-1700 and Chinese at Rs 1700-1800.

Cotton ends lower
An easy trend continued on the cotton market following slack demand.

Punjab price were placed lower by Rs 5 to 10 a maund in the case of J-34. Saw-ginned good average ruled at Rs 1375-1470, cart selected at Rs 1450-1600 and roller-ginned good average at Rs 1335-1420 a maund spot. Bengal Deshi roller-ginned were static at Rs 1050-1110. Arrivals were comprised of 2000 bales of Bengal Deshi and 8,000 bales of J-34.

Gujarat cotton ruled weak by Rs 300 a candy afresh. V-797 old were placed at Rs 12,300-12,400 and Sanker in the range of Rs 16,000-18,300.

February contract lost 39 points ending at Rs 4016 while April closed lower by 14 points at Rs 4021 on selling pressure.