Gold, Silver Buoyant; Gnut Oil Rules Firm

Groundnut oil ruled firm on better demand coupled with limited arrivals from the producing centres, whereas other industrial oils ruled easy to steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai, yesterday. Imported palmolein ruled easy on reduced offtake at higher level. In future section, castor seeds December 97 contract remained untraded, while March 98 opened lower and eased further towards closing.

Groundnut oil firmed up by Re 1 at Rs 352 per 10 kg on improved consumer demand. Arrivals remained modest at around 80 tonne a day.

In other oils, linseed oil and sunflower oil expeller improved by Rs 5 and Rs 3 to Rs 305 and Rs 330 per 10 kg, respectively, on better industrial demand coupled with reduced arrivals. Coconut oil white advanced by Rs 28 to Rs 578 per 10 kg. Castor oil commercial and BSS firmed up by Re 1 each to Rs 280 and Rs 292 per 10 kg, respectively, on reduced arrivals and improved industrial demand. Imported palmolein eased by Re 1 at Rs 279 per 10 kg. In future section, castor seed March 98 contract opened Rs 1.50 lower at Rs 1171 a quintal and firmed up to Rs 1172.50. It declined and closed at Rs 1166.50.

 

In oilseeds, castor seeds Madras and Maharashtra qualities looked up further by Rs 5 each to Rs 1248 and Rs 1242 a quintal respectively.

Sugar: An easy to steady trend was noticed in sugar prices at the wholesale sugar market at Turbhe, Navi Mumbai, yesterday. Both the grades of sugar ruled subdued.

Sugar S-30 grade eased to Rs 1470/1495 from the previous level of Rs 1475/1500 a quintal on sluggish consumer demand coupled with better arrivals. While, sugar M-30 ruled quiet at the previous level of at Rs 1495/1531 a quintal on dull offtake and subdued arrivals.

Non-ferrous metals: Except nickel, an overall firm trend was witnessed in the local non-ferrous metals market yesterday.

In virgin metals, nickel cathodes slightly firmed up by Re 1 at Rs 331 a kg on better industrial demand and limited availability. Meanwhile, all the other metals ruled overall steady and were nominally quoted as under: copper wirebar Rs 110.50, aluminium ingots Rs 82.50, zinc slabs Rs 75, lead ingots at Rs 40 and tin slabs Rs 342 a kg, respectively, on narrow movements.

Bullion: A firm to upward trend was witnessed in the local bullion market yesterday. Both the precious metals ruled in upward direction. In white metals, silver .999 and .916 improved by Rs 35 each to Rs 8160 and Rs 8060 a kg, respectively, on firm overseas advices and better industrial demand at reduced level.

In yellow metals, standard gold and 22 carat gold firmed up by Rs 10 each to Rs 3,920 and Rs 3,625 per 10 grams on modest overseas advices and better local demand. Gold biscuit prices also improved by Rs 200 at Rs 45,900 per piece of gold bar on better movements.