Silver eases, Gold rises on bullish advice

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Mumbai, Sep 16: A mixed trend was observed in the precious metals as Silver declined by Rs 115 per kg while gold slightly improved by Rs 15 per ten gm, during the week ended September 14 on the Bombay Bullion Exchange.

As there was no trading in bullion market on September 15, on account of 'Ganesh Chaturthi'.

Silver (0.999 fineness grade) opened downward on Monday last at Rs 17,495 per kg because of poor demand from domestic industrial users.

The white metal recorded a high at Rs 17,635 on Sep 12 and low at Rs 17,415 per kg on Sep 14. It closed at Rs 17,415 per kg with a loss of Rs 115 from its last weekend's close, traders said.

In the global market, silver closed at 12.55/12.58 US dollars per troy ounce during the week ended Sep 14.

Similarly, standard mint gold (99.5 fineness) also opened lower on Monday last at Rs 9,260 per ten gm followed by pure gold (99.9 fineness) at Rs 9,310 per ten gm on sustain heavy selling pressure from ornament makers.

The yellow metal registered a high at Rs 9,340 on Sep 12 and Rs 9,390 for pure gold on the same day.

Standard mint gold recorded a low of Rs 9,280 on Sep 14.

Likewise, pure gold also registered a low at Rs 9,325 on the same day.

Finally, both standard gold and pure gold closed at Rs 9,280 and Rs 9,325 , with a gain of Rs 10 from standard gold and Rs five from pure gold from their last close.

Meanwhile, in London, gold was USD 705.25/706.50 per troy ounce during the week ended Sep 14 on Friday.


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