Prices of precious metals moved upwards in a narrow range at higher levels with silver closing at Rs 7,730 at the Bombay bullion exchange. The prices of raw silver stood at Rs 7,620 per kg while tenderable silver prices stood at Rs 7,735 per kg.
For the second consecutive day, gold prices reacted to the reports of the further weakening of the rupee. Domestic gold prices gained smartly as the rupee continued to weaken against the dollar during intra-day trading, while the international gold prices were down marginally.
Standard gold prices closed at Rs 4,185 per 10 gm against a previous close of Rs 4,170 per 10 gm. The prices of 22 carat gold were quoted at Rs 3,870 per 10 gm while the 10 tola gold bar recorded prices of Rs 49,100. The prices of international gold stood at $ 298 during intra-day trading at the London markets. Silver prices at the international markets stood at $ 5.28 per troy ounce.
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Edible oils: Groundnut oil prices firmed up marginally yesterday at the Bombay Oils exchange yesterday. Prices of groundnut oil stood at Rs 429 per 10 kg, while castoroil prices stood at Rs 288 per 10 kg.
The prices of other varieties of oils stood as follows: rapeseed (refined) Rs 390, castor (comm) Rs 286 castor (BSS) Rs 298, linseed Rs 390, cottonseed (white-wash) Rs 398, groundnut solvent refined oil Rs 415, rapeseed (refined) Rs 392 and soybean (refined) Rs 395.
Metals: Prices of non-ferrous metals at the Bombay Metal Exchange ruled steady, dealers said. Following were the rates at the metal exchange yesterday. Copper wire bars Rs 130 per kg, zinc slabs Rs 76.25 per kg, lead ingots Rs 42 per kg, Aluminium ingots Rs 82 per kg, Tin Rs 352 per kg, nickel Rs 298 per kg.
Sugar: Sugar prices at the Navi Mumbai market remained steady with not much demand witnessed through the mills at the local sugar market yesterday. The prices of the small grade variety stood at Rs 1460-1490 per quintal, medium grade stood at Rs 1478-1520 per quintal.
Cotton: The Sewree cotton market observed steady trend today with scattered demand for quality Shankar-4, 797, Y-1, mech, wagad and G-12. Around 3500 bales were traded. Following are some of the spot rates per candy: Gujarat Shankar-4 Rs 17500/22500, gujarat 797 Rs 14650/15400, however, Bengal Deshi at Rs 1605/1610, Bhatinda J-34 sg at Rs 2120/2125, Haryana J-34 sg at Rs 2100/2105 and Mukatsar J-34 c/s at Rs 2180/2185 were quoted per mound.
Black pepper: Black pepper prices stayed firm on restricted arrivals despite low enquiries for futures contracts on the international commodity exchange here yesterday,dealers said.
"Arrivals were low as growers seem to be holding on to stocks anticipating better prices," they said.