Prices of precious metals recorded divergent trends at the bullion markets yesterday. Silver prices witnessed a mixed trend while gold firmed up marginally. Silver.999 declined by Rs 5 to Rs 7515 on low buying interest, while raw silver firmed up by Rs 20 to Rs 7410 per kg due to restricted inflows.
Standard gold mint, which had opened steady, and 22-carat hardened by Rs 20 and Rs 15 to Rs 4180 and Rs 3865 per ten gm with good seasonal buying support by local operators.
The ten tola gold biscuit gained Rs 200 to 49,000 on good buying support by investors and jewellery industries. The Bombay Bullion Association president M L Damani said local gold prices are expected to remain firm over the next few days largely on account of improved overseas advises. International gold prices which had opened weak yesterday, improved to $290.3 per troy ounce during intra-day trading at the London markets, sources said.
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Sugar: Sugar prices gained on renewed consumer demand, low supplies and the absence of any measures in the budget relating to decontrol of the industry, dealers said. "Last week sugar prices were down as traders expected a decontrol of the sugar industry to be announced in the budget," said Girish Mehta, a leading dealer. "The Mumbai market received only eight to 10 truckloads (10 tonne each) yesterday due to suspension of deliveries," a broker said."
S-30 climbed Rs 10 to Rs 1,460/1,490 per quintal. M-30 gained by Rs 5 to Rs 15 to Rs 1,490/1,530 per quintal. Mill delivery S-30 gained Rs 20/25 to Rs 1,400/1,405 per quintal. M-30 climbed Rs 30/35 to Rs 1,425/1,430 per quintal.
Edible oils: Select edible oils rose in the oils and oilseeds market yesterday on brisk buying. Marketmen said traders who refrained from doing any business before the budget, indulged in buying to complete their commitments as there was no sop for the edible oil segment barring the announcement for commencement of futures trading in such commodities.
Groundnut mill delivery was higher by Rs 100 at Rs 4400 per quintal on local buying activities. Mustard expeller was up by Rs 50 at Rs 3900 per quintal and sesame by Rs 10 at Rs 3890 per quintal.
Groundnut oil prices ruled steady at Rs 436 per 10 kg. Sunflower rose by Rs 50 at Rs 3850 per quintal. However, coconut lost Rs 15 at Rs 740 per tin on reports of fresh arrivals from the south.
Black pepper: Prices of ready pepper declined steeply due to increased arrivals and poor offtake, while copra prices hardened on good demand at the spices market yesterday, dealers said.
Ready pepper declined by Rs 100 per 50 kg to close at Rs 11,700. Copra Rajapur (Mumbai) hardened by Rs 50 to Rs 4100 and copra edible (Mumbai) looked up by Rs 25 to Rs 3700 per quintal.