Weekly market report

Jaggery: Gur (jaggery) prices remained in keen demand in the national capital during the week under review, as strong demand from stockists and retailers, registered gains up to Rs 400 per quintal.

Marketmen said despite arrivals of new gur variety in the market, brisk buying by stockists and retailers led to a rise in prices. Good advices from neighbouring states also helped in boosting the trading sentiment to some extent, they added. 

Muzzafarnagar and Muradnagar gur market also ended on a firm note on aggressive buying.

In Delhi, gur chakku prices of fresh stocks depicted higher at Rs 3,000-3,100 compared to old stocks price of Rs 2,850-2,900 per quintal.

Gur pedi new stocks also ended higher at Rs 3,200-3,300 against the old stocks price of Rs 2,800-2,900 per quintal, prices of new stocks showed a rise of Rs 400 per quintal jump.

The trading took place in gur dhayya and shakkar on arrivals of new stocks and prices quoted at Rs 3,150-3,200 and Rs 3,200-3,300 per quintal.

Turning to Muzzafarnagar, gur raskat ruled flat throughout the week on some support from beer making industries and prices quoted unchange at Rs 2,075-2,175 per quintal.

Gur chakku new stocks, however, showed a sharp rise of Rs 425 per quintal at Rs 2,925-3,000 compared to the old stocks price of last week's at Rs 2,500-2,600 per quintal.

On the other hand, gur khurpa prices dropped from the last week's close of Rs 2,875-3,000 to Rs 2,650-2,700 per quintal.

At Muradnagar, supply of new stocks into the marked, started business in gur dhayya and pedi, prices quoted at Rs 2,900-3,000 and Rs 3,000-3,025 per quintal.

Bullion: Gold crossed crucial Rs 20,000 per ten gram mark in the bullion market during the past week on brisk buying by stockists in line with a firming trend overseas.

Silver also rose to an all-time high of Rs 37,000 per kg on frantic buying by stockists and jewellers for the ongoing festive and marriage season, backed by reports the metal in overseas markets rose to a 30-year high.

Buying activity in the precious metals picked up for the festival of 'Navratras' an auspicious week in Hindu mythology, traders said. 

The trading sentiment further bolstered on reports of a firming trend in overseas markets, where gold climbed to a record levels $1,388 an ounce and silver extended its 30- year high rally, as weak dollar spurred demand for safe alternative investments. 

On domestic front, the gold for 99.9 and 99.5 per cent purity commenced higher on fresh buying support, triggered by a firming global trend. 

It rose to set an all-time high level of Rs 20,120 and Rs 20,020 before ending at Rs 20,100 and Rs 20,000 per ten gram, respectively, still higher by 360 each from the previous close. Sovereign followed suit and climbed by Rs 250 to Rs 15,750 per piece of eight gram. 

Silver ready opened with gains and spurted to an all-time high level of Rs 37,000 on the back of firming global trend but at the fag-end it met with resistance at higher levels and settled at Rs 36,900 per kg, still showing a hefty surge of Rs 1,700.

Silver weekly-based delivery also remained in speculator's grip and spurted to Rs 36,250 per kg, revealing an on balance gain of Rs 1,555 from the last close.

Silver coins shot up by Rs 400 to Rs 36,100 for buying and Rs 36,200 for selling of 100 pieces on account of festive season.

In edible oils segment, refined palmolein resumed higher at Rs 473 advanced further to Rs 480 before ending at Rs 472 from the preceding weekend's level of Rs 466, showing a modest gain of Rs 6 per 10 kg.

Groundnut oil opened higher at Rs 860 and firmed up further to Rs 880 before finishing at Rs 860 from last weekend's level of Rs 855, disclosing a gain of Rs 5 per 10 kg.

Turning to non-edible oils section, castorseeds bold resumed high at Rs 3,890 and improved further to Rs 3,900, but later it declined to close at Rs 3,850 from previous weekend's level of Rs 3,885, showing a fall of Rs 35 per 100 kg.

Similarly, castoroil commercial opened slightly higher at Rs 808 and moved up further to Rs 810, but later moved down to end at Rs 800 from preceding weekend's level of Rs 807, showing a loss of Rs 7 per 10 kg.

Linseed oil closed unchanged at Rs 550 per 10 kg.

Moving to the futures section, castorseed's December contract resumed lower at Rs 3,535 and moved in a range of Rs 3,600 and Rs 3,430, before concluding at Rs 3,437 from last Saturday's closing level of Rs 3,539, showing a steep fall of Rs 102 per tonne.