Gold prices reacted on the bullion market yesterday due to lack of local buying coupled with weak London advices.
Prices of silver, however, rose marginally on scattered industrial buying at lower levels.
Standard gold declined by Rs 20 to close at Rs 4090. 22-carat gold was nominally quoted lower at Rs 3780 as against the last close of Rs 3800.
Ten-tola gold bar of .999 purity dropped by Rs 200 to settle at Rs 47,900.
Silver ready .999 fineness improved marginally by Rs five to close at Rs 7370. Raw silver of .916 fineness and tenderable silver also gained by a similar margin to finish at Rs 7270 and Rs 7375 from the last close of Rs 7265 and Rs 7370 respectively.
Oil & Oilseeds: Prices of groundnut oil fell on the oilseeds market yesterday on poor demand coupled with weak outside advices.
Elsewhere, prices of palm oil and linseed oil also declined while castor oil and castorseed improved.
In the edible section, groundnut oil eased by Rs 3 to close at Rs 332 from Rs 335 while groundnut bold held steady at Rs 1880. Palm oil eased to Rs 274 from rs 275 on fresh arrival.
In the industrial section, castor oil commercial improved to close higher at Rs 279 as against the last close of Rs 278.
Castorseed Madras rose by Rs five to finish at Rs 1243 from Rs 1238 on good support from soap manufacturers and exporters. Linseed oil fell by Rs five to end at Rs 280 on poor support from the paint industries. Linseed bold held steady at Rs 1300 on scattered dealings.
Trading remained suspended in the futures market due to the continuing agitation by traders.
Non-ferrous metals: Tin and nickel prices added fresh gains as a falling rupee would make imports costlier, dealers said.
Tin rose Rs 400 to Rs 32,500 per quintal and nickel firmed Rs 300 to Rs 31,900. The two metals had risen by Rs 300 and Rs 100 respectively on Monday.
Copper prices rose Rs 50 to Rs 12,200 per quintal on fresh support after it lost Rs 100 on Monday.
Zinc firmed Rs 50 to Rs 7,600 per quintal while lead was quiet at Rs 4,100 and aluminium at Rs 8,250 per quintal in light activity.
Sugar: Sugar prices fell yesterday as buyers stayed away after Monday's sharp rise, traders said.
Ready delivery sugar S-30 fell to Rs 1,625/1,650 per quintal from Rs 1,700/1,750 while M-30 dropped to Rs 1,825/1,850 from Rs 1,850/1,900.
Prices had risen by Rs 150/200 per quintal on Monday.
Traders said they were not taking in fresh supplies from mills in protest against the five per cent service tax imposed by the government.
"There is hardly 700/800 quintals of sugar stock now left in the Mumbai market against the normal average of 25,000/30,000 quintals," a broker said.
