Precious metals firm: Bombay Bullion Assn

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Mumbai, Apr 17: Both the precious metals today shot up, with Silver advancing by a whopping Rs 545 per kg and Gold by Rs 145 per ten gm on persistent demand from industrial users coupled with firm global trend, traders at the Bombay Bullion Association said.

Following record high oil prices and struggling dollar, the precious metals zoomed up and its impact was felt in the domestic market also, traders added. In last three days, Silver has advanced by Rs 930 per kg and gold by Rs 310 per ten gm. Silver .999 fineness variety opened high at Rs 24,445 on good demand from ornament makers. Later, it jumped further and closed at Rs 24,480 with a gain of Rs 545.

In yellow metal segment also, an upward trend was seen as standard gold (99.5 purity) and pure gold (99.9 variety) opened upward at Rs 12,230 per ten gm and Rs 12,285 respectively amid brisk buying support.

Later, both standard and pure gold edged up and finally closed at Rs 12,260 and Rs 12,315 per ten gm respectively on better buying support.

Standard gold and Pure gold rose by Rs 145 per ten gm each.

Traders received positive reports from global centres that Silver moved upward at USD 18.40/18.41 an troy ounce against the previous day's level of USD 17.89/17.90 an ounce, while gold was quoted high at USD 943.00/944.00 compared to 936.00/937.00 an ounce.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 24,480 (23,935) Gold (per 10 gm): Standard mint 99.5 purity: Rs 12,260 (12,115) Pure gold 99.9 purity: Rs 12,315 (12,170).

UNI

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