Mumbai, May 2: Silver prices hardened from the lower level while gold closedsteady on the bullion market here today.Silver .999 lifted up by Rs 40 at Rs 7,915 per kg. Silver .916 was shot upby Rs 60 at Rs 7,785 per kg. Traders reported fresh industrial buying forsilver at lower level as sluggish inflow and bullish Delhi as well asoverseas advices kept offerings restricted during the day. Arrivals ofimported silver remained negligible. However, the city market has receivedabout 75/100 kg of raw silver from local sources during the day, accordingto market sources. In the global market the white metal lifted from $4.96 to$5.02 per ounce.
Standard gold placed static at Rs 4,350 per 10 gm. So was gold .22 carat atRs 4,025 per 10 gm. in sympathy. Prices of gold biscuit (116.50 gm.)maintained at Rs 50,900 per piece. Physical demand for gold was low but firmglobal advices kept offerings limited at lower level. In the internationalmarket, gold prices bounced back from $273.50 to $275.50 per ounce, it waslearnt.
Yarn listless
A listless condition continued on the yarn market under the cumulativeinfluence of poor demand for cloth, 50 per cent underutilisation of capacityin Bhiwandi powerlooms and acute liquidity crunch.
Nylon yarn gujnil 20/1/0 dn at Rs 285, 30/1/10 dn at Rs 320 and 111/24/0 dnat Rs 170 a kg were static.Viscose filament yarn spinners were also feelingthe inventory burden because of poor demand.
Bright cones first quality Century Rayon 150 dn ruled at Rs 193, 120 dn atRs 205, 100 dn at Rs 213, 75 dn at Rs 253 and 120 dull cones at Rs 210 a kgwere unchanged.
Polyester yarn grey first quality of medium sized units 80/1000 dn ruled atRs 128-130 and 80/1400 dn at Rs 130-135.
Castor oil up
Groundnut oil ruled steady at the lower level on the oil,oilseeds markethere today. Castorseed and its oil however looked up modestly in the readymarket while prices suffered losses in the forward section, dealers said.Groundnut oil was quiet at Rs 350 per 10 kg amidst low buying interestcoupled with scattered inflow. In Rajkot it was placed firm at Rs 615/620per 15 kg owing to reports of severe drought in the Saurashtra region ofGujarat State.
Imported palm oil here gained Rs 3 at Rs 214 per 10 kg. In the overseasmarket it was unchanged at $345 per tonne for the nearby delivery and$347.50/350 per tonne for the long delivery, it was learnt.
Castor oil looked up by a rupee to Rs 405/417 per 10 kg on stray enquiries.Castorseed ready was up by Rs 5 at Rs 1,875 per quintal in sympathy.In the futures section castorseed June delivery reacted from Rs 1,930 to Rs1,911 per quintal as weak Gujarat advices prompted bull unloading. In theiternational castor oil futures market however, June delivery closed a rupeeup at Rs 419 per 10 kg.In Ahmedabad castorseed June delivery eased to Rs1,836 per quintal. And traders reported castorseed arrivals at 40000/45000bags in Gujarat.
Grains static
A steady condition prevailed on the grains market. Activity wasmoderate.Wheat milling ruled at Rs 765-775 a quintal. Maharashtra SRT wereon offer at Rs 875-1,000, Lokvan at Rs 775-850 and HD at Rs 875-950.Rice perimal Punjab medium ruled at Rs 950-1,200 and superior at Rs1,250-1,300.
Among pulses, green peas Rumba/ Heart USA were traded at Rs 1,225-1,250 andCanadian at Rs 911-921. White peas Canada found sellers at Rs 921-931.Australian gram were quoted at Rs 1,425-1,450. Kabuli gram A-2 Mexican weretraded at Rs 4,200, USA at Rs 3,600-3,700 and Canada at Rs 3,350-3,400. B-2were transacted in the range of Rs 2,800-3,200, C-2 at Rs 2,200-2,600 andnatural at Rs 2,700-2,800.
Cotton gains
Strong trend continued on the cotton market due to tight supply. Pricesgained by Rs 20 to 25 a mound.Punjab J-34 saw ginned good average ruled atRs 1,710-1,810, cart selected at Rs 1,730-1,870, Bengal Deshi ruled at Rs1,105-1,165 a mound spot.V-797 were placed at Rs 12,500-13,000 and Sankar atRs 16,500-20,500 a candy.
Sugar weak
A weak trend prevailed on the sugar market on poor demand. Prices droppeddown by Rs 10 a quintal.Ex-godown quotations ruled at Rs 1520-1590 for M-30and at Rs 1490-1525 for S-30.Ex-octroi checkpost prices were Rs 1,500-1,530for M-30 and Rs 1,470-1,490 for S-30.In tenders, M-30 were indicated at Rs1,435-1,450 and S-30 at Rs 1,410-1,425 in Kolhapur line.
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