Gold Dips By Rs 15, Gnut Oil Slips, Sugar Firms Up

Groundnut oil fell on dull demand coupled with brisk arrivals whereas other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday.

Groundnut oil declined by Rs 6 at Rs 342 per 10 kg.on reduced demand and improved arrivals from the producing centres.

In other oils, kardi oil and copra oil white declined by Rs 2 and Rs 5 to Rs 325 and Rs 520 per 10 kg respectively. Soya oil refined firmed up by Re 1 at Rs 284 per 10 kg.Imported palmolein recovered by Rs 2 at Rs 268 per 10 kg .

In futures section, December contract opened Rs 2 up at Rs 1164.50 a quintal and ruled steady at the same level. It declined and closed at Rs 1160.50 a quintal on subdued movements.

In oilseeds, groundnuts - Karad bold and Saurashtra qualities - declined by Rs 10 each to Rs 1840 and Rs 1860 a quintal Nigerseeds Madras eased by Rs 5 at Rs 1375 a quintal

Sugar: A better-to-firm trend was noticed at the wholesale sugar market yesterday. Both the grades of sugar moved upward. However, the undertone of the market was weak.

Sugar S-30 grade improved to Rs 1486/1511 from the previous level of Rs 1478/1501 a quintal. Sugar M-30 advanced to Rs 1508/1526 against the previous level of Rs 1491/1535 a quintal on limited inflow. Meanwhile, sugar for the check post deliveries were quoted low at Rs 1470/1485 for S-30 grade and Rs 1490/1511 for the M-30 grade.

Non-ferrous metals: A mixed trend was witnessed in the local non-ferrous market yesterday.

In virgin section, nickel cathodes and tin slabs eased by Re 1 and Rs 2 to Rs 320 and Rs 310 a kg.respectively. Zinc slabs softened by 25 paise at Rs 83 a kg. Aluminium ingots firmed up by 50 paise at Rs 82 a kg. Meanwhile, all the other metals ruled overall steady and were nominally quoted as under : copper wirebars Rs 128.50 and lead ingots Rs 41.50 a kg respectively on narrow movements.

In the scraps section, all the metals ruled quiet and steady, and were nominally quoted as under : copper heavy scraps Rs 119, copper utensils Rs 110, brass utensils Rs 96, brass sheetcuttings Rs 102 and aluminium utensils Rs 61 a kg.respectively

Bullion: A divergent trend was noticed in the local bullion market yesterday. While silver firmed up, gold eased to a lower level.

In white metals, silver, both .999 and .916, firmed up by Rs 15 each to Rs 7380 and Rs 7280 a kg respectively

In yellow metals, standard gold and 22 carat gold eased Rs 15 each to Rs.4455 and Rs.4120 per 10 gms respectively. The arrivals remained modest. Gold biscuit prices also softened by Rs 200 at Rs 52,300 per piece.