Gold Adds Sheen, Sugar Mixed, Gnut Oil Easy

Groundnut oil witnessed an easy trend while other industrial oils ruled easy-to-subdued at the wholesale oils and oilseeds market, here yesterday. Imported palmolein ruled steady on subdued demand and modest arrivals.

In the futures section, castorseeds June contract remained untraded while the September contract opened lower and eased further towards closing.

Groundnut oil eased by Re 1 at Rs 356 per 10 kg on modest arrivals. This was due to rainfall in the groundnut producing regions of Gujarat. Demand remained subdued. Arrivals were put at around 80-85 tonnes a day. In other oils, sesame and coconut oil white declined by Rs 5 each to Rs 290 and Rs 550 per 10 kg.

Castor oil commercial and BSS qualities eased by Re 1 each to Rs 248 and Rs 260 per 10 kg respectively. Kardi oil and cottonseed oil washed firmed up by Rs 3 and Rs 2 to Rs 370 and Rs 272 per 10 kg respectively.

In the futures section, castorseeds September contract opened Rs 2.50 lower at Rs 1,143 a quintal and remained at the same level. It declined to Rs 1,141 before closing at Rs 1,141.50 a quintal on short-coverings.

In oilseeds, castorseed Madras and Maharashtra declined by Rs 5 each to Rs 1,094 and Rs 1,088 a quintal.

Sugar: A mixed-to-subdued trend was witnessed on the wholesale sugar market here yesterday. Both grades of sugar ruled mixed. The undertone of the market was not firm.

Sugar S-30 ruled at Rs 1,450-1,480 against the previous level of Rs 1,455-1,475 a quintal on easy demand coupled with better availability. Sugar M-30 firmed up to Rs 1,475-1,508 against of the previous level of Rs 1,470-1,508 a quintal.

Sugar for the check-post deliveries were quoted low at Rs 1,420-1,440 a quintal for S-30 and at Rs 1,440-1,460 for M-30.

Non-ferrous metals: Nickel prices suffered a setback on improved arrivals coupled with reduced demand. All other metals ruled overall steady on the local non-ferrous market. Most metal prices were static on modest buying interest from industry.

In the virgin section, nickel cathodes declined by Rs 4 at Rs 354 per kg.

Copper heavy scraps was quoted at Rs 139.25 per kg, aluminium ingots Rs 77, zinc slabs Rs 81, lead ingots Rs 41 and tin slabs Rs 305 a kg respectively.

In the scraps section, a quiet conditions was noticed. All metals ruled overall steady. Copper heavy scraps was quoted at Rs 128.50 a kg, copper utensils at Rs 116.25, brass utensils Rs 97, brass sheetcuttings Rs 102 and aluminium utensils at Rs 60 a kg.

Bullion: A steady-to-upward trend was noticed on the local bullion market here yesterday. Both the precious metals ruled slightly firm on modest overseas advices, subdued demand and limited arrivals. The market undertone was hesitant.

In white metal, silver.999 and .916 improved by Rs 45 each to Rs 6,770 and Rs 6,670 a kg respectively. Delhi advices indicated a weak trend.

In yellow metal, standard gold firmed up by Rs 5 at Rs 4,630 per 10 grammes on modest demand, while .22 carat ruled overall steady and was quoted at Rs 4,280 per 10 grams on narrow movements. Gold biscuit prices too looked up by Rs 100 at Rs 54,200 per piece of 10 tolas.