Standard gold fell by Rs 40 at Rs 4,500 per 10 gm. Gold 0.22 carat was down by the same margin at Rs 4,160. Prices of gold biscuit (116.50 gm) slipped by Rs 600 at Rs 52,500 per piece. In the global market, gold slid from $ 269 to $ 264 before settling at $ 266 per troy ounce. Expected fresh auction of 25 tonnes of gold by Bank of England kept market sentiments weak, at the global centers.

In the city market, even rally in dollar value against rupee had failed to cheer up the market owing to thin trading activity.

Silver 0.999 closed Rs 45 lower at Rs 8,000 per kg. Silver 0.916 eased by Rs 50 at Rs 7,875 per kg. Industrial and seasonal buying was at a low ebb while traders reported daily inflow of 300/400 kg of raw silver in the local market during the week. In the overseas market gold fell from $ 4.79 to $ 4.77 per troy ounce. Groundnut oil rules weak with new crop arrivalsOil,oilseeds: Groundnut oil ruled weak on the oil,oilseeds market here during the last week. Prices fell from Rs 371 to Rs 353 per 10 kg following continued new crop arrivals at the producing centers. In Rajkot it closed lower at Rs 570/575 per 15 kg.

Imported palm oil ruled quiet at Rs 205 per 10 kg but undercurrent remained firm, on expectation that the Union government may hike import duty on edible oil soon. In the overseas market palm oil dropped by $ 5 at $ 252.50 per tonne for ready delivery while long delivery were placed at $ 257.50/270 per tonne.

Castor oil closed Rs 3 lower at Rs 291/303 per 10 kg. Overseas buyers stayed away in the falling market, it was said. Castorseed ready was down by Rs 15 at Rs 1,305. In the futures section castorseed December delivery looked up by Rs 7 at Rs 1,318 on light short covering. February delivery climbed by Rs 10 at Rs 1,305. Castor oil December delivery eased by a rupee to Rs 309 per 10 kg. Palmolien December delivery closed lower at Rs 209 per 10 kg.

Kanpur

Foodgrains: Steady to firm conditions prevailed in Kanpur foodgrains market in the past week. Wheat prices moved up by Rs 10 at Rs 545/575 on revival of millers demand. Gram spurted by Rs 100/200 at Rs 1,400/1,550 due to paucity of stocks in absence of fresh arrivals. Barley sustained minor losses at Rs 500/520 on slack demand. Maize rose by Rs 20/25 at Rs 370/400 due to meagre arrivals. Rice average held unchanged at Rs 900/1,400.

Among pulses arhar dal after initial losses shot up by Rs 50 at Rs 1,750/2,050 at the weekend on renewed demand from Assam. Moong dal recorded a steep rise of Rs 200 at Rs 2,200/2,450 owing to poor receipts. Urad dal declined by Rs 50/100 at Rs 900/2,250, on increased arrivals. Gram dal with fresh spurt of Rs 150/160 touched season's high at Rs 2,040/2,065 on tight supply position.

A rapid advance in mustard oil prices featured trading in oils and seeds market. Other oils and seeds exhibited mixed trend.

Mustard oil prices rose sharply by Rs 200/250 at Rs 3,000/3,050 due to shortage of ready stocks and keen buying enquiries from Bihar and West Bengal. Lahi and mustardseed held steady at Rs 1,050/1,150. Groundnutdana moved up by Rs 50/100 at Rs 2,300/2,500 in absence of fresh arrivals.

Vanaspati rose by Rs 2/6 at Rs 348/355 per 15 litre pack on restricted offerings.

Linseed bold held slightly easy at Rs 1,150/1,250 while its oil declined by Rs 50 at Rs 2,350/2,400 on fall in offtakes. Castorseed ruled quiet at Rs 1,230/1,450. Castor oil drifted lower by Rs 50 at Rs 3,250/3,300.

A downward trend was noticed in sugar and gur market. Crystal sugar ex-mill prices dropped sharply by 30/40 at Rs 1,425/1,470 on selling pressure by mills and stockists in face of poor demand from nearby states. Prices of duty paid sugar also sought lower levels at Rs 1,550/1,600 per quintal as against Rs 1,590/1,645 during the last week, thanks to comfortable supply position. Gur pansera tumbled down by Rs 85/90 at Rs 870/890 in wake of increased new produce arrivals. Gur laddoo slumped by Rs 150/160 at Rs 1,000/1,025.