Silver, Gold close higher on local demand

Mumbai, Dec 19 (UNI) Gold prices today went up by a whopping Rs 470 per ten gm and Silver advanced by Rs 65 per kg owing to demand from retailers, traders at the Bombay Bullion Association (BBA) said.

Silver (.999 fineness) opened high at Rs 18,750 on demand from industrial users.

Later, the white metal closed at Rs 18,755 with a gain of Rs 65 per kg from its last close.

In New York, London and other markets, the white metal was quoted downward at USD 14.42/14.44 per troy ounce against USD 14.62/14.68 per troy ounce the previous day, traders added.

Similarly, price of standard mint Gold (99.5 purity) and pure Gold (99.9 purity) resumed higher at Rs 10,270 per ten gm and Rs 10,320 per ten gm respectively on heavy selling pressure from local dealers.

Later, standard Gold and pure Gold closed at Rs 10,730 and Rs 10,280 per ten gm with standard gold closing with a gain of Rs 470 per ten gm compared to its previous close.

In London and New York, the yellow metal was quoted lower at USD 799.25/801.50 per troy ounce compared to USD 807.25/809.50 the previous day, traders added.

Following are the spot Silver and Gold closing prices: Silver (per kg) .999 grade Rs 18,755 (18,690) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,730 (10,260) Pure gold 99.9 purity: Rs 10,280 (10,210) UNI AD OBB SKB1828