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Gold, silver prices north bound on bullish advice from Int mrks

Written by: Staff

Mumbai, Feb 22 (UNI) After yesterday's bearish trend in bullion prices, values of silver and gold today recovered gains mainly on firm advice from International markets and some good ornment-makers' demand, traders at the bullion market here said.

Silver opened firm at Rs 13,465 and closed again positive at Rs 13,485, showing a net gain of Rs 30 from its previous day's close.

There was fresh demand from local industrial users, along with encouraging advice from the overseas markets, they said.

In London, the white metal was quoted high at US dollar 9.58/9.62 per troy ounce from USD 9.51/9.52 per troy ounce from its previous day's close.

Standard mint gold (99.5 purity) and pure gold (99.9 purity) resumed high at Rs 8,030 and Rs 8,065 per ten gm. Both the prices closed high at Rs 8,015 per ten gm for standard mint gold and Rs 8,055 per ten gm for pure gold, which showed gain of Rs 15 each from their last close.

There was lack of offer by stockists due to lesser stocks arrivals. However, demand from ornament makers was good.

The yellow metal was also quoted high at USD 552.20/553.50 per troy ounce from USD 551.10/552.40 per troy ounce at its previous close, which helped to boost the domestic prices, traders added.

Following were the spot silver and gold prices today: Silver (per kg) .999 grade : Rs 13,485 (Rs 13,455), Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,015 (Rs 8,000), Pure 99.9 purity : Rs 8,055 (Rs 8,040).


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