Silver, gold close high on strong advice from global markets

Mumbai, Nov 19 (UNI) Spot silver and gold today closed high with silver gaining by Rs 30 per ten kg and gold by Rs 20 per ten gm on fresh ornament makers demand along with firm advice from London and Asian markets, traders at the Bombay Bullion Association said.

Silver (.999 fineness) opened high at Rs 19,315 on better industrial demand and lesser ready stocks.

Later, the white metal rallied again and closed positive at Rs 19,330 per kg with a modest gain of Rs 30 from its previous close.

In New York, London and other markets, the white metal was quoted higher at USD 14.43/14.55 per troy ounce against USD 14.42/14.45 per troy ounce the previous day, traders added.

Similarly, prices of standard mint gold (99.5 purity) and pure gold (99.9 purity) opened firm at Rs 10,060 and Rs 10,110 per ten gm on lack of selling pressure by stockists.

Later, both the prices closed high at Rs 10,070 per ten gm for standard mint gold and for pure gold at Rs 10,120 per ten gm.

Both the prices rose modestly by Rs 20 each from their last close.

There was brisk demand from local dealers along with bullish advice from global markets.

In London, New York and Asian markets, gold today was quoted low at USD 784.50/795.00 per troy ounce as compared to USD 785.50/790.00 per troy ounce the previous day, which helped the upward trend in the domestic prices, traders said.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade Rs 19,330 (19,300) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,070 (10,050) Pure gold 99.9 purity: Rs 10,120 (10,100) UNI AR MAZ AG1845