Gold prices recovered on fresh inflow of buying, and silver rose further on poor stock position.
Standard gold opened steady and later recovered to end at Rs 4110, a gain of Rs 20 over the last close of Rs 4090. 22-carat gold also finished better at Rs 3800 from Rs 3780. Ten-tola gold bar of .999 purity gained Rs 200 to finish at Rs 48,100 from Rs 47,900.
Silver ready of .999 fineness rallied further by Rs 75 to end at Rs 7365 from Saturdays close of Rs 7290. Silver raw of .916 fineness and tenderable silver also gained by a similar margin to end at Rs 7265 and Rs 7370 from the last close of Rs 7190 and Rs 7295 respectively.
Oils & Oilseeds: Barring groundnut oil, prices of other oils and seeds closed higher on the oilseeds market yesterday on good demand.
In the edible section, palm oil rose by Rs 2 to end at Rs 275 on poor arrival. However, groundnut oil and groundnut bold held steady at Rs 335 and Rs 1880 respectively on scattered dealings.
In the industrial section, castor oil commercial hardened by Rs 2 to close at Rs 278. Castorseed Madras rallied by Rs 9 to finish at Rs 1238 on good support from soap manufacturers and exporters. Linseed oil improved by Rs 3 to close at Rs 285 on brisk paint industries' demand. Linseed bold finished steady at Rs 1300.
Trading remained suspended on the futures market as traders continued their agitation against the daily clearing system.
Sugar: Prices soared on the wholesale market yesterday in the absence of fresh arrivals.
While the price of small sugar, S-30, rallied by Rs 100/259, medium sugar, M-30, price jumped up by Rs 69/229. Both ended the day at Rs 1700/1900 per quintal as against the previous level of Rs 1600/1641 and Rs 1631/1671.
"The sudden spurt in prices is due to acute shortage of ready stocks as we are not bring any commodity, including sugar, to the wholesale market. We will continue our agitation till the government withdraws the service tax imposed on goods transported by road," a dealer said.
Non ferrous metals: Prices of copper and brass declined while tin and nickel prices rose on the non-ferrous metals market yesterday. Copper scrap heavy and copper wire bar prices fell to close at Rs 109 and Rs 121.50 per kilo respectively on weak London Metal Exchange advices Prices of brass sheets cutting also closed weak at Rs 90.50 per kilo.Tin prices rallied by Rs 3 per kilo to end at Rs 321 and prices of nickel eased to Rs 316 per kg.
Following were today's rates per kilo. (previous rates in brackets): Copper scrap heavy Rs 109 (Rs 110), copper wire bar Rs 121.50 (Rs 122.50), copper utensils Rs 97 (Rs 97), brass scrap Rs 83 (Rs 83), brass sheet cutting Rs 90.50 (Rs 91.50), aluminium scrap Rs 62.50 (Rs 62.50), aluminium Rs 82.50 (Rs 82.50), zinc Rs 75.50 (Rs 75.50), lead Rs 41 (Rs 41), tin Rs 321 (Rs 318) and nickel Rs 316. (Rs 315).
