Gold Loses Sparkle, Sugar Dull, Groundnut Oil Easy

Groundnut oil ruled easy on subdued demand against brisk arrivals, whereas other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein ruled firm on modest demand against normal arrivals.

Groundnut oil eased by Re 1 to Rs 345 per 10 kg on reduced demand and better arrivals from the producing centres.Arrivals were put at around 110/120 tonnes a day. In other oils, coconut oil white gained Rs 10 at Rs 550 per 10 kg on improved industrial demand coupled with limited arrivals. Sunflower oil expeller firmed by Rs 3 at Rs 280 per 10 kg on better industrial demand. Meanwhile, majority of other oils ruled overall steady on narrow movements.

In the futures section, December contract opened Rs 3 higher at Rs 1168 and firmed up to Rs 1169.50 a quintal. It declined to Rs 1167.50 before closing at Rs 1168.50 a quintal. Sesameseeds bold declined by Rs 50 at Rs 1800 a quintal on reduced industrial demand

Sugar: Sugar prices continue to rule dull in the wholesale sugar market at Turbhe, Navi Mumbai yesterday. Both grades ruled weak on sluggish demand. The undertone of the market was not firm. S-30 declined further to Rs 1440/1475 against the previous level of Rs 1445/1580 a quintal on sluggish consumer demand coupled with brisk arrivals, while M-30 fell further to Rs 1460/1513 against the previous level of Rs 1470/1515 a quintal on dull offtake. .

Non-ferrous Metals: Virgin metals ruled easy-to-downward while scraps metals, except copper, ruled steady in the local non-ferrous market yesterday. The undertone of the market was hesitant.,Nickel cathodes declined by Rs 2 at Rs 317 a kg on reduced industrial demand while copper wirebars and zinc slabs eased by 50 paise each to Rs 129 and Rs 85.50 a kg.respectively on reduced offtake coupled with improved rivals.Meanwhile the metals were quoted as under : copper utensils Rs 110, brass utensils Rs 96.50, brass sheetcuttings Rs 102 and aluminium utensils Rs 60 a kg. respectively.

Bullion: A divergent trend was noticed in the local bullion market yesterday. Silver ruled firm whereas gold was weak on lack of consumer as well as industrial demand. The undertone remained hesitant.

Silver .999 and .916 improved by Rs 10 each to Rs 6,875 and Rs 6,775 a kg.respectively on improved industrial demand coupled with reduced arrivals. Delhi advices also indicated modest trend.Standard gold and 22 carat dipped by Rs 10 and Rs 5 to Rs 4440 and Rs 4110 a kg. respectively on dull overseas advices, sluggish demand and better arrivals. Gold biscuit prices also slid by Rs 100 to Rs 52,100 a piece of gold bar of 10 tolas.