Silver, gold up on renewed demand

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Mumbai, Dec 22 (UNI) Both silver and gold were up today, with the white metal rising by Rs 130 per kg and the yellow metal by Rs 110 per ten gm on renewed demand in view of encouraging advices from global markets, traders at the Bombay Bullion Association (BBA) said.

Silver (.999 fineness) variety crossed Rs 19,000 mark after two weeks and resumed high at Rs 19,085 per kg on fresh demand. Later, it rallied again and closed firm at Rs 19,085 per kg, with a major rise of Rs 130 per kg from its last close. There were few offers by stockholders in view of strong advices from global markets.

In New York, London and other centres, the white metal was quoted high at around USD 14.21/14.30 per troy ounce yesterday, 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 at Rs 10,400 per ten gm and Rs 10,450 per ten gm respectively due to poor selling by local dealers.

Later, both standard and pure gold closed positive at Rs 10,390 and Rs 10,440 per ten gm respectively. Finally, both the prices rose further by Rs 110 each as compared to their previous close.

Traders said there was improved demand from ornament-makers in view of encouraging advices from global markets.

In London and New York, the yellow metal was quoted higher at around USD 803.25/804.50 per troy ounce as 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 19,085 (18,955) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,390 (10,280) Pure gold 99.9 purity: Rs 10,440 (10,330) UNI AR SSS AG1635

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