Precious metals end high amid mixed fortunes during week

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Mumbai, Apr 12 (UNI) Both precious metals ended the week high with silver rising by Rs 115 per kg and gold by Rs 160 per ten gms compared to their last weekend's close, amid fluctuating fortunes.

Silver, on April 7, quoted at Rs 23,810 per kg with a rise of Rs 145. It gained a further Rs 65 on the next day and finished at Rs 23,875. On the third day of the week, however, it crashed by Rs 400 to close at Rs 23,475 on sustained heavy selling pressure.

Silver recovered by Rs 770 on Thursday and closed at Rs 24,245 -- the highest during the week. The next two days saw silver falling by Rs 465. On April 12, silver fell by Rs 80 per kilogram and closed at Rs 23,780 which was, however, Rs 115 higher than the last weekend's close.

In the global markets, silver quoted at USD 18.02/18.03 per troy ounce during the week ended April 11 as compared to the previous weekend's close of USD 17.40/17.41 per troy ounce.

As regards the yellow metal, gold quoted at Rs 11,860 on Monday last. Next day, it shot up by Rs 75 on better buying support and closed at Rs 11,935. On Wednesday, it slipped by Rs 195 on sluggish demand from ornament makers. Again on Thursday it recovered by Rs 385 and closed at Rs 12,125 which was the highest during the week.

Again on Friday yellow metal dipped by Rs 155 and closed at Rs 11,970 and on April 12 it again slightly improved by Rs 20 and closed at Rs 11,990.

Both standard and pure gold ended the week at Rs 11,990 and Rs 12,050 respectively, with a gain of Rs 160 for standard gold and Rs 165 for pure gold over their last weekend's close.

The yellow metal recorded its highest during the week at Rs 12,125 on April 10 and a low of Rs 11,740 on April 9.

In London, gold recorded at USD 930.00/931.50 per troy ounce during the week ended April 11, as compared to the previous week's close of USD 905.00/906.50.

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