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Mixed results for bullion; oilseeds firm
Our Commodities Bureau
Mumbai, Jan 15 : Bullion: Gold prices suffered fresh losses while silver moved in a narrow range and closed on a firm note on the bullion market here.Standard gold slide by Rs 10 at Rs 4,440 per 10 gm. Gold .22 carat was down by Rs 5 at Rs 4,110 per 10 gm in sympathy. Prices of gold biscuit (116.50 gm.) fell by Rs 100 at Rs 51,800 per piece after losing Rs 100 on Saturday. Fresh seasonal buying for gold was at a low ebb, while setback in dollar value against rupee and weak overseas advices prompted fresh offerings by stockists and bankers here, dealers said. Silver .999 climbed from Rs 7,675 to Rs 7,690 before settling to Rs 7,680 with a marginal gain of Rs 5 per kg. Silver was up by Rs 40 on Saturday. Seasonal buying for silver was slow following tight supplies and stray industrial enquiries kept offerings restricted during the day. OIL, OILSEEDS: Groundnut oil closed on a steady note while imported palmoil remained firm, following bullish global advices on the oil, oilseeds market here. Castorseed and its oil spurted on fresh short-covering by bears and shippers, amidst overseas enquiries as well as ahead of shipment period, dealers said.Groundnut oil ruled quiet at Rs 315 per 10 kg amidst thin buying interest as new crop arrivals remain scattered due to continued cold weather in the producing centres. In Rajkot prices remain steady at Rs 530/535 per 15 kg. Imported palmoil edged up a rupee to Rs 197 and recovered further to Rs 199/200 per 10kg in the kerb trading, following uptrend in the global prices. Palmoil prices in the global market went up further by $10 at $225 per tonne for the nearby delivery. Long deliveries were quoted higher at $230/240 per tonne, it was learnt. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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