Precious metals zoom up on global advice

Mumbai, Jan 24: Both the precious metals today zoomed up on firm global advice with Silver going up by Rs 130 per kg and Gold by Rs 55 per ten gm from their previous close, traders at the Bombay Bullion Association (BBA) said. Silver fineness (.999) purity opened higher at Rs 20,640 per kg on increase of fresh demand. Later, it rallied further and closed at Rs 20,700 per kg with a gain of Rs 130 per kg as compared to its previous close.

In last two days, the white metal shot up by Rs 550 per kg. In the London market, Silver inched up at 16.27/16.29 per troy ounce, compared to its last close of 16.01/16.05 per troy ounce. Standard gold (99.5 purity) and pure gold (99.9) opened upward at Rs 11,390 and Rs 11,445 per ten gm respectively on brisk buying support.

Later, the yellow metal improved further and closed at Rs 11,425 and Rs 11,475, with a gain of Rs 55 for both standard gold and pure gold from their previous close.

Gold has moved up by Rs 370 per ten gm in last two days.

In the overseas market, Gold was up at 888.00/890.00 per troy ounce against 885.00/887.00 per troy ounce.

Following are spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 20,700 (20,570) Gold (per 10 gm) Standard mint 99.5 purity: Rs 11,425 (11,370) Pure gold 99.9 purity: Rs 11,475 (11,420).

UNI