Standard gold reacted by Rs 45 at Rs 4,430 per 10 gm. Gold .22 carat was down by Rs 35 at Rs 4,100 per 10 gm. Prices of gold biscuit (116.50 gm.) dropped by Rs 500 at Rs 51,700 per piece. Demand resistance by seasonal buyers arrested the rally while brisk overseas supplies and setback in the global prices prompted profit taking among stockists and local bankers. In the global market gold, finished lower from $283.25 to $280.15 per an ounce.

Meanwhile, silver .999 slipped by Rs 50 at Rs l8,050 per kg. Silver .916 softened by Rs 60 at Rs 7,930 per kg in sympathy. Industrial and seasonal buyers were stayed away at higher level while weak Delhi and overseas advices triggered selling in the city market. Volume of trading, however, was at a low ebb and undercurrent was weak due to fresh round of enquiries from the Income Tax Department in the bullion market, according to a bullion broker. In the international market silver placed lower from $5.15 to $5.09 per an ounce.

Groundnut oil steady

Groundnut ruled steady at the reduced level on the oil, oilseeds market here today. Castorseed and its oil remained weak in absence of overseas support while new crop supplies were picked up in the producing centers, dealers said.

Groundnut oil remained unchanged at Rs 360 per 10 kg on tight supplies but demand was sluggish. In Rajkot, groundnut oil subdued at Rs 599/600 per 15 kg.

Imported palm oil eased by Rs 3 at Rs 205 per 10kg on weak overseas advices. In the international market, palm oil ruled weak as prices opend lower at $360 before settling at $365 per tonne for the nearby delivery. Long delivery was quoted at $367.50/370 per tonne. Castor oil moved down by a rupee to Rs 373/385 per 10 kg. Castorseed rady finished Rs 5 lower at Rs 1709/1715 per quintal. In the future section, castorseed March delivery slipped by Rs 8 at Rs 1728 per quintal. Castorseed February delivery quoted lower at Rs 1691 per quintal in Ahmedabad and Rajkot, it was gathered.

In the international castor oil future market both February and April delivery edged down by a rupee each at Rs 387 and Rs 392 per 10 kg respectively.

Delhi

Basmati rice suffers
In mixed market conditions, basmati rice prices continued to show a downtrend at the Delhi grains and pulses market on Thursday.

Common basmati rice of Punjab and Haryana further fell sharply by Rs 100-200 at Rs 2500-3100 a quintal due to sluggish demand from exporters coupled with selling pressure from the neighbouring states. UP basmati rice prices also fell by Rs 50 a quintal. Output of basmati this season is expected to move up from 7-8 lakh tonnes to about 10-12 lakh tonnes. Bajra went up by Rs 30-40 at Rs 545-570 per quintal on strong seasonal demand. Maize recorded a mild gain on support from Punjab and Haryana industrial consumers.

Pulses prices remained quiet on Thursday but arhar and gram shot up by Rs 25-60 a quintal amidst tight supply position. Damaged moth declined by Rs 50 a quintal due to weak demand from millers.

Sesame oil falls
Palmolein in Malaysia ruled easy at $360 a tonne on weak demand from the importing countries, consequently, palmolein in Mumbai further dipped by Rs 30 at Rs 2050 a quintal. Most of the oils in edible section, revealed an easy tendency. Sesame oil fell sharply by Rs 150 at Rs 3150 a quintal due to weak demand from exporters. Among industrial oils, on consistent offerings from Hyderabad, neem oil tumbled down by Rs 25-50 a quintal while linseed oil improved by Rs 20-50 a quintal on support from paint units.

Gur improves
Local as well as upcountry demand in sugar remained poor as government failed to take any steps to curb sugar import.

In a limited activity, Bagpat sugar was traded at Rs 1395, Bajpur Rs 1355, Gadarpur Rs 1350, Kesar Rs 1375, Douralla Rs 1440, new Kashipur sugar Rs 1450 and Modi was offered at Rs 1485 a quintal. Gur, however, improved by Rs 25-50 at Rs 925-1000 a quintal due to higher cane prices in western Uttar Pradesh.

Poppyseeds slip
Turmeric ghatha and finger, at the local market flared up by Rs 100 at Rs 2400-4300 a quintal as turmeric crop in Tamil Nadu was hit hard due to untimely rains. On increased import, betelnut prices started sliding down. Poppyseeds slipped by Rs 2-3 a kg on reports of increased area under poppyseed in UP, MP and Rajasthan.