Standard gold fell by Rs 10 at Rs 4,215 per 10 gm. It was placed Rs 35 up on Monday. Gold .22 carat closed Rs 10 lower at Rs 3,900 per 10 gm in sympathy. Prices of gold biscuit (116.50 gm) dropped by Rs 200 at Rs 49,300 per piece after gaining Rs 200 on Monday. Demand resistance capped the rally, while renewed supplies from banks coupled with weak global advices prompted profit booking among stockists and local bankers. Traders were complaining about shortage of ready stock on Monday, however today the market received fresh supplies and prices turned weak amidst slow trading activity, one bullion broker said.

Slide in dollar value against rupee also weakened the market sentiment. In the global market gold at one stage slipped from $257.80 to $255.80 before concluding at $257.45 per troy ounce.

Silver .999 at one stage declined to Rs 7,240 (Rs 7,255) but later on recovered and settled down on a steady note at Rs 7,255 per kg, on stray industrial buying at lower level. Silver was up by Rs 40 on Monday. Silver .916 on the other hand placed a modest gain of Rs 5 at Rs 7,150 per kg. In the overseas market silver looked up from $4.31 to $4.34 per troy ounce.

OIL, OILSEEDS: Groundnut oil looked up modestly on the oil, oilseeds market here on Tuesday. Castorseed and its oil however remained weak in ready delivery but prices closed firm in the forward market, dealers said.Groundnut oil edged up by Rs 2 at Rs 330 per 10 kg amidst tight supplies and retail buying. In Rajkot it remained steady at Rs 530/535 per 15 kg.

Imported palm oil closed Rs 2 lower at Rs 254 per 10 kg. In the kerb trading it was quoted at Rs 251/252 per 10 kg amidst slide in dollar value and renewed pressure of supplies at port followed by weak global advices.

Castor oil edged down a rupee at Rs 269/281 per 10 kg in absence of overseas support. Castorseed ready were down by Rs 5 at Rs 1,195 per quintal in sympathy.