Silver, Gold end higher on bullish advice

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Bullion
Mumbai, Aug 29: Maintaining the upward trend, both the precious metals rose on Friday, Aug 29 with Silver advancing by Rs 15 per kg to finish at Rs 21,295 per kg and Gold was slightly up by Rs 15 per ten gm to close at Rs 11,950, on good demand by jewellery makers, traders at the Bombay Bullion Association said.

Silver opened low at Rs 21,160 on lower buying support by local dealers.

Later, Silver ended at Rs 21,295, an increase of Rs 15 from its yesterday's close, on renewed buying support by industrial users.

Standard gold and pure gold too opened low at Rs 11,905 and Rs 11,970 respectively on lack of fresh demand from stockists.

Later, standard gold and pure gold finished at Rs 11,950 and Rs 12,010 per ten gm respectively, rising by Rs 15 and Rs 10 per ten gm respectively on sustained demand along with bullish global advice.

In London and Asian markets, Gold was recorded at USD 834.00/834.50 per troy ounce against the previous day's 832.00/832.50, while the white metal was quoted at USD 13.74/13.75 per ounce from USD 13.72/13.73 per ounce from its last close, traders added.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 21,295 (21,280) Gold (per 10 gm): Standard mint 99.5 purity: Rs 11,950 (11,935) Pure gold 99.9 purity: Rs 12,010 (12,000).


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