Silver

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Mumbai, Dec 27 (UNI) Both the precious metals today closed at a six week high with Silver spurting smartly by Rs 190 per kg and Gold by Rs 120 per ten gm on lack of offloading from stockists along with bullish trend in global markets, traders at the Bombay Bullion Association (BBA) said.

Silver (.999 fineness) variety crossed Rs 19,300 mark and resumed firm at Rs 19,370 per kg on lack of offers by stockists.

Later, it closed at a six week high of Rs 19,360 per kg. The White metal rose smartly by Rs 190 per kg from its last close.

There was steady demand from eve of christmas festival along with encouraging advices from overseas markets.

Similarly, values of standard mint gold ( 99.5 purity) and pure gold (99.9 purity), also opened better at Rs 10,515 per ten gm and Rs 10,565 per ten gm respectively on scattered good festival buying support by local ornament makers.

Later, both standard and pure gold prices were maintained at opening levels of six weeks high during the end of the session.

Finally, both the prices further went up sharply by Rs 120 each as compared to their previous close.

Traders received a report from London, New York and other centres that Spot gold rose in some good festival trading in Asian and other foreign markets, buoyed by firmness in Japanese futures and oil prices.

Cash gold was trading around at USD 825.80/827.60 an ounce at London, up from USD 812.70/813.50 late in Asia the previous day.

Following were the spot Silver and Gold closing prices: Silver (per kg) .999 grade Rs 19,360 (19,170) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,515 (10,395) Pure gold 99.9 purity: Rs 10,565 (10,445) UNI AR OBB AG1854

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