Silver, gold zoom up on firm global advices

Mumbai, Oct 25 (UNI) Both the precious metals today zoomed up with Silver gaining by Rs 155 per kg and Gold by Rs 105 per ten gm on positive and encouraging advices from global and upcountry markets, traders at the Bombay Bullion Associaton (BBA) said.

Silver (.999 fineness) variety opened higher by Rs 100 at Rs 18,255 per kg from its last close on sustained good industrial users' demand.

Later, the white metal moved further up and closed positive at Rs 18,400 with a gain of Rs 155 per kg from its previous close.

Traders said there was lack of offers by stockists in view of bullish advices from global markets and lesser arrival of stocks at the domestic centres.

In New York, London and other markets, the white metal was quoted higher at 13.72/13.75 per US Dollar troy ounce against USD 13.48/13.52 per troy ounce, the previous day.

Prices of spot standard gold (99.5 purity) and pure gold (99.9 purity) grades resumed higher at 9,805 and Rs 9,855 per ten gm respectively.

Later, both the prices rallied again and closed firm at Rs 9,825 per ten gm for standard mint gold and for pure gold at 9,875 per ten gm. Both the prices rose by Rs 105 each from their last close.

There was brisk fresh demand from ornament-makers. Sellers were holding their stocks in view of bullish advices from global markets.

In London, New York and Asian markets, gold touched a high at USD 762.50/768.00 per troy ounce as compared to USD 772.25/756.00 on the previous day, which reflected the upward trend in the domestic prices, traders said.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 18,400 (18,245) Gold (per 10 gm): Standard mint 99.5 purity: Rs 9,825 (9,720) Pure gold 99.9 purity: Rs 9,875 (9,775) UNI