Silver, Gold on the upswing

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Mumbai, Aug 28 (UNI) The precious metals flared up for the second consecutive day today with Silver rallying by Rs 120 per kg and Gold by Rs 40 on sustained demand from industrial users, traders at the Bombay Bullion Association said.

Silver opened low at Rs 21,135 on lack of fresh demand by jewellery makers.

Later, the white metal ended at Rs 21,280, up by Rs 120 from its yesterday's close, on brisk buying support by local dealers.

Standard gold and pure gold too opened low at Rs 11,890 and Rs 11,965 respectively on lower buying support from stockists.

Later, standard gold and pure gold finished at Rs 11,935 and Rs 12,000 per ten gm respectively, rising by Rs 40 and Rs 30 per ten gm respectively on brisk buying support along with encouraging global advice.

In London and Asian markets, Gold was recorded at USD 837.00/837.50 per troy ounce against the previous day's 832.00/832.50, while the white metal was quoted at USD 13.80/13.81 per ounce from USD 13.78/13.79 per ounce from its last close, traders added.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 21,280 (21,160) Gold (per 10 gm): Standard mint 99.5 purity: Rs 11,935 (11,895) Pure gold 99.9 purity: Rs 12,000 (11,970).

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