Silver, Gold end up on strong global advice

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Mumbai, Dec 21 (UNI) Both the precious metals today ended firm with Silver gaining by Rs 165 per kg and Gold by Rs 20 per ten gm mainly on bullish advice from global markets along with fresh ornament makers demand, traders at the Bombay Bullion Association (BBA) said.

Silver (.999 fineness) variety opened high at Rs 18,920 per kg on small demand by industrial users.

Later, the white metal rallied again and closed positive at Rs 18,955 per kg with a major gain of Rs 165 per kg from its last close of Rs 18,790.

There was lack of offers by stock-holders in view of strong advice from global markets.

In New York, London and other markets, the white metal was quoted upward around at USD 14.25/14.28 per troy ounce against USD 13.99/14.01 per troy ounce the previous day, traders added.

However, values of standard mint Gold (99.5 purity) and pure Gold (99.9 purity) resumed flat at Rs 10,260 per ten gm and Rs 10,310 per ten gm respectively on scattered buying support by local dealers.

Later, standard Gold and pure Gold closed higher at Rs 10,280 and Rs 10,330 per ten gm respectively. Finally, both the prices rose by Rs 20 each compared to their previous close.

Traders said there was some good ornament makers demand even at low levels in view of encouraging advice from global markets.

In London and New York, the yellow metal was quoted higher around at USD 802.25/804.50 per troy ounce compared to USD 799.25/801.50 the previous day, traders added.

Following were the spot Silver and Gold closing prices: Silver (per kg) .999 grade Rs 18,955 (18,790) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,280 (10,260) Pure gold 99.9 purity: Rs 10,330 (10,310) UNI AR OBB SKB1818

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