Indian soyaoil futures rose slightly on Friday on lower market arrivals while gold climbed as the metal hit its highest price in Asia in 18 years and wheat gained marginally after slipping most of the week.
December soyaoil at the Multi Commodity Exchange (MCX) was up 3.30 rupees at 353.05 rupees per 10 kg.
The December contract at the National Commodities and Derivatives Exchange (NCDEX) rose 3.15 rupees to 354.20 rupees.
"Soya futures have firmed up on lower arrivals of soyabean in the main markets in Madly Prudish," said a Mumbai-based broker. He said daily soyabean arrivals were down to 200,000 tonnes against normal levels of 300,000 tonnes.
Traders said farmers could be holding back stocks because of low prices for beans. Gold futures continued to firm as the metal's price rose to its highest level in 18 years in Asia on Friday, with buying picking up in Japan.
December gold at the MCX rose 13 rupees to 7,326 rupees per 10 grams. February gold was trading 15 rupees up at 7,340 rupees. Spot gold hit a high of $495.70 an ounce, its highest since December 15, 1987, before easing to $495.25/496.00 an ounce in late afternoon trade.
Fund managers have shown a keen interest in gold amid worries about the impact of high crude oil prices, inflation, the US economy and geopolitics.
Wheat prices rose slightly, with December delivery at the NCDEX up 2.40 rupees at 846.60. December sugar at the NCDEX rose 1 rupee to 1,791 per 100 kg. The January contract was 9 rupees higher at 1,781.
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