Gold closes at record peak of Rs 11,725 per ten gm

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Mumbai, Jan 25 (UNI) Both the precious metals today zoomed to all time highs with Gold closing at a record peak of Rs 11,725 per ten gm and Silver registering a two year record high of Rs 20,970 per kg on bullish global advice.

Gold moved up by Rs 300 per ten gm and Silver by Rs 270 per kg from their last close, traders at the Bombay Bullion Association (BBA) said.

Harmesh Arora, Vice President of Bombay Bullion Association (BBA), said that rising price of oil and weak dollar had led to increase in prices of precious metals.

Standard gold (99.5 purity) and pure gold (99.9) opened upward at Rs 11,630 and Rs 11,685 per ten gm respectively on heavy demand from retailers.

Later, the yellow metal increased and closed at Rs 11,725 and Rs 11,780, with a massive gain of Rs 300 per ten gm for both standard gold and pure gold from their previous close.

Gold has moved up by Rs 670 per ten gm in last three days.

In the overseas market, Gold was up at 907.00/908.00 per troy ounce against 888.00/890.00 per troy ounce.

Silver fineness (.999) purity opened upward at Rs 20,855 per kg on better buying support. Later, it inched up and closed at Rs 20,970 per kg with a gain of Rs 270 per kg as compared to its previous close.

In last three days, the white metal shot up by Rs 820 per kg.

In the London market, Silver inched up at 16.36/16.38 per troy ounce, compared to its last close of 16.27/16.29 per troy ounce.

Following are spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 20,970 (20,700) Gold (per 10 gm) Standard mint 99.5 purity: Rs 11,725 (11,425) Pure gold 99.9 purity: Rs 11,780 (11,475).

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