Gold on the overseas markets improved from $289 to $292 an ounce coupled with negligible inflow of imported gold due to erratic variation in prices, consequently, gold biscuit and standard mint gold improved by Rs 35 at Rs 4565 and Rs 4575 per 10 gram, respectively. Though wedding demand in gold was reported poor.

Gold sovereign, however, remained unchanged at Rs 3800-3825 per 8 gram.New York silver future improved from 508 cents to 511 cents an ounce, spot silver .999 fineness improved by Rs 10 at Rs 7800 a kg and silver weekly delivery, in tandem with spot silver marked up by Rs 10 at Rs 7845 a kg.Silver coins remained unchanged.

Mumbai: Gold prices bounced back while silver closed lower on the bullion market here on Friday.

Standard gold recovered by Rs 30 at Rs 4,600 per 10 gram. Gold 22-carat was up by Rs 25 at Rs 4,255 per 10 gram in sympathy. Prices of gold biscuit (116.50 gram) hardened by Rs 400 at Rs 53,800 per piece. Seasonal buying was slow but eased supplies coupled with news of recovery in the global prices triggered speculative interest. In the overseas market the yellow metal shot up from $288.60 to $292.55 per an ounce.

Meanwhile silver .999 closed Rs 10 lower at Rs 8,015 per kg on sluggish industrial demand. Silver .916 was steady at Rs 7,900 per kg as inflow of raw silver remain restricted to hardly 20-25 kg in the local market. In international market the white metal moved up from $5.05 to $5.11/5.12 per an ounce.

Masoor firm
A mixed trend prevailed at the Delhi grains and pulses market on Friday.Rice prices held steady due to sluggish demand from exporters. Indonesia hiked import duty on rice from 30 per cent to 45-50 per cent and wheat dara held steady at Rs 692-700 a quintal as output as per the ICAR is expected about 700 lakh tonnes. Bajra and maize revealed a firm tendency due to restricted supply. Rajasthani maize was quoted higher at Rs 630 a quintal.

Among pulses, masoor firmed up by Rs 25 at Rs 1400-1510 a quintal on stockists buying while arhar and gram fell by Rs 15-25 a quintal due to weak demand from dal millers.

Palmfatty acid spurts
On encouraging Malaysia advices coupled with strong demand from Punjab and Haryana soap units, palmfatty acid recorded a sharp rise of Rs 150 at Rs 1700-1900 a quintal and mahuwa oil flared up by Rs 50 a quintal. Castor, linseed and cottonseed oils also recorded a gain of Rs 20-40 a quintal on firm producing centres advices while business in mustard oil remained dull. Sale of Hafed mustard oil in Haryana was banned of detection argemone.

Mumbai: Groundnut oil maintained at the improved level in a narrow trading range on the oil, oilseeds market here on Friday. Castorseed and its oil, however, finished firm on hectic buying support in the ready section and by speculators in the forward market, dealers said.

Groundnut oil ruled quiet at Rs 370 per 10 kg on sluggish buying interest coupled with scattered inflow. In Rajkot it was steady at Rs 595-600 per 15 kg.

Imported palm oil declined by Rs 2 at Rs 209 per 10 kg in absence of buying support. But in the global market palm oil remain unchanged at $335 per tonne for nearby delivery and at $337.50-340 per tonne for long delivery, it was learnt.

Castor oil edged up by a rupee to Rs 385-397 per 10 kg on stray covering by shippers. Castorseed ready were up by Rs 5 at Rs 1769-1775 per quintal in sympathy. In the future section castorseed June delivery jumped up from Rs 1864 to Rs 1894 before settling at Rs 1890 per quintal on brisk bull loading following news of rally in Gujarat centre. Maturing March delivery remain untraded. In the international castor oil future market here April delivery looked up by Rs 2 at Rs 397 per 10 kg.

In Ahmedabad castorseed April delivery closed firm at Rs 1,715 and June delivery at Rs 1,796 per quintal, respectively. Castorseed spot prices rose to Rs 340-345 per 20 kg.

Sugar sluggish
Business in sugar remained sluggish as sugar is likely to be decontrolled from next month. Scattered deals in mill delivery sugar Mawana were settled at Rs 1572, Dorualla on advance payment Rs 1443, Modi Rs 1437, Simbhauli Rs 1435 and Dhanoura at Rs 1420 a quintal.

Khandsari prices fell by Rs 10-25 a quintal on selling pressure from the producing areas of Uttar Pradesh.