Precious metals up during week

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Mumbai, Jun 28 (UNI) Both the precious metals moved up during the week, with silver increasing by Rs 100 per kg and standard gold by Rs 305 per ten gm, traders at the Bombay Bullion Association (BBA) said.

On the first three days, Monday, Tuesday and Wednesday the white metal observed negative trend and next three days witnessing positive trend.

On Monday, silver fell by Rs 50 from its previous close and ended at Rs 24,485 on sluggish demand by ornament makers. On Tuesday and Wednesday it further slashed by Rs 475.

Within three days, silver lost its shine by Rs 525 and on Wednesday closed at Rs 24,010. From Thursday it started rising and remained in this mode till today. In the three days silver soared by Rs 625.

Today, at the the end of the session, Silver recorded at Rs 24,635 per kg, improving by Rs 100 than the last weekend's close. Silver closed highest at Rs 24,635 on June 28, while it recorded the lowest at Rs 24,010 on June 25, during the week.

In the global markets, silver was quoted at USD 17.44/17.45 per troy ounce during the week ended June 27, as compared to the previous weekend's close of USD 17.40/17.41 per troy ounce.

Meanwhile the yellow metal gold fell on Tuesday and Wednesday, though from Thursday it started gaining, which continued till today.

While, gold was up by Rs 30 per ten gm at Rs 12,550 on Monday, from its previous close.

On Tuesday and Wednesday gold eased by Rs 275, on thin buying support by ornament makers and weak global cues.

From Thursday its upward march started and remained till today.

Within three days it soared by Rs 550.

On Friday the yellow metal shot up by Rs 410 to closed at Rs 12,750. Today it further gained by Rs 75 and finished at Rs 12,825.

Gold recorded its highest at Rs 12,825 on June 28, while its lowest was Rs 12,275 on June 25, during the week.

Today, standard gold closed at Rs 12,825, rising by Rs 305, than the last week's close, whereas pure gold closed at Rs 12,885, up by Rs 305 than the last week's close.

In London, gold was recorded at USD 922.00/923.25 per troy ounce during the week ended June 27, as compared to the previous week's close of USD 907.00/908.60.


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