Silver Suffers Setback

Groundnut oil eased further by Re 1 to Rs 404 per 10 kg. on the continued brisk arrivals of oils on account of the commencement of the new season at the producting centres.

Arrivals of soyaoil and groundnut oil from the producing centres to the mandies were put at around 1 lakh bags of each.

In other oils, copra oil white dropped by Rs 15 to Rs 525 per 10 kg on brisk arrivals from the producing centres and reduced demand.

Kardi oil and linseed oil improved by Rs 5 per 10 kg.each to Rs 380 and Rs 330 respectively on improved demand.

Karanji oil suffered a setback and lost Rs 5 at Rs 185 per 10 kg on profit taking.

Cottonseed oil refined recovered by Rs 2 to Rs 300 per 10 kg on improved demand as against reduced availability of ready stock.

Imported palmolein eased further by Rs 2 at Rs 260 per 10 kgon reduced demand at low level. Meanwhile, majority of other oils ruled overall steady on narrow movements.

In future section, December contract opened 50 paise lower at Rs 1,107 and firmed up to Rs 1,112.50 a quintal.

It declined to Rs 1,105.50 before closing at Rs 1112 per quintal.

In oilseeds, castorseeds Madras and Maharashtra qualities recovered by Rs 3 per quintal to Rs 1,078 and Rs 1,072 respectively on better offtake. Meanwhile, all the other oilseeds ruled overall steady on narrow movements.

A subdued to steady trend was noticed at the wholesale sugar market. The demand was at low ebb.

The undertone of the market remained weak. Sugar S-30 grade was quoted at Rs 1,285/1,313 as against the previous level of Rs 1,290/1,312 a quintal, while sugar M-30 grade was quoted at Rs 1,310/1,355 from Rs 1,310/1,351 a quintal.

Sugar for check-post deleveries were quoted at Rs 1,255/1,270 a quintal for S-30 grade and Rs 1,275/1,315 for the M-30 grade.

Silver suffered a heavy setback while gold prices ruled easy in the local bullion market yesterday. The market sentiment remained shaky.

In white metals, silver .999 declined by Rs 95 to Rs 6,960 per kg on brisk arrivals and reduced demand. Silver .916 lost Rs 85 per kg to Rs 6,860 on dull industrial demand and improved arrivals. The demand was at low ebb. Delhi advices witnessed a weak trend .

In yellow metals, standard gold and 22 carat gold eased by Rs 5 to Rs 5,150 and Rs 4,765 per 10 grammes respectively.

Gold biscuits prices ruled overall steady on narrow movements at the previous level of Rs 60,300 per piece of 10 tolas on moderate demand . The undertone remained weak.

A steady to dull trend was noticed in the local non-ferrous metals market. Industrial demand remained dull and trade volume continued to be limited. Prices of all the the metals remained unchanged.

Prices quoted per kg were as under:

In virgin section, copper wirebar Rs 117, aluminium ingots Rs 72.50, zinc slabs Rs 62.25, lead ingots Rs 49.25, tin slabs Rs 356 and nickel cathodes,Rs 375.

In scraps section, copper heavy scraps, Rs 110, copper utensils Rs 99.50, brass utensils scraps Rs 85.00, brass sheetcuttings Rs 89.00 and aluminium utensils, Rs 58.00.