Fresh physical buying ahead of wedding season helped gold to bounce back while tight spplies and encouraging overseas advices kept offerings remain restricted. In the global market gold looked up from $264.50 to $265.20 per troy ounce.

Silver .999 closed Rs 5 lower at Rs 7,875 per kg in absence of industrial support. Silver .916 was static at Rs 7,770 per kg. In the international market the white metal remain steady at $4.67/4.68 per troy ounce.

OIL,OILSEEDS: Groundnut ruled steady at reduced level on the oil, oilseeds market here today. Castorseed and its oil maintained both in ready as well as forward section amidst limited activity.

Groundnut oil maintained at Rs 332 per 10 kg on fresh physical enquiries. In Rajkot prices quoted higher by Rs 15 at Rs 570 per 15 kg. Imported palm oil here ruled quiet at Rs 197 per 10 kg. In the overseas market palm oil placed lower by $2.50 at $247.50 per tonne for nearby delivery and at $252.50/262.50 for long delivery.

Castor oil closed at Rs 301/313 per 10 kg on stray overseas enquiries. Castorseed ready changed hands at Rs 1,355 per quintal.In the futures section castorseed December delivery moved in a narrow range and settled at Rs 1,382 per quintal. Castor oil December delivery edged up a rupee to Rs 316 per 10 kg. In Ahmedabad castorseed December delivery fell by Rs 10 at Rs 1,373 while February delivery slide from Rs 1,364.50 to Rs 1,357 per quintal. Improved new crop arrivals triggered selling at higher level.

METALS: Tin ingot moved up on the non-ferrous metal market today on emergence of buying by local parties and closed better. Marketmen said emergence of buying in tin ingot by local solder manufacturers pushed up the prices. Tin ingot gained rupee one at Rs 359 per kilo on local buying.