Silver, Gold zoom up on firm advice from global markets

Mumbai, Nov 21 (UNI) The precious metals today zoomed up with Silver gaining by Rs 195 per ten kg and Gold by Rs 130 per ten gm on bullish advice from London and Asian markets, traders at the Bombay Bullion Association said.

Silver (.999 fineness) opened higher at Rs 19,435 on increase in industrial demand and lesser ready stocks.

Later, the white metal again rallied and closed positive at Rs 19,350 per kg with a massive gain of Rs 195 from its previous close.

There was reduced offers by stockists in view of encouraging advice from global markets.

In New York, London and other markets, the white metal was quoted higher at USD 14.55/14.65 per troy ounce against USD 14.35/14.45 per troy ounce the previous day, traders added.

Similarly, price of standard mint gold (99.5 purity) and pure gold (99.9 purity) opened higher at Rs 10,240 per ten gm and Rs 10,290 per ten gm respectively on reduced selling pressure by stockists.

Later, both the prices closed firm at Rs 10,180 per ten gm for standard mint gold and for pure gold at Rs 10,235 per ten gm.

Both the prices rose smartly by Rs 120 for standard mint and for pure gold by Rs 130 from their last close.

There was some good ornament makers demand along with bullish advice from global markets.

In London, New York and Asian markets, gold today was quoted higher at USD 789.50/799.00 per troy ounce as compared to USD 780.50/785.00 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 19,350 (19,155) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,180 (10,060) Pure gold 99.9 purity: Rs 10,235 (10,105) UNI AR OBB AG1831