Silver prices up, gold rates down on moderate demand

Mumbai, Feb 23 (UNI) Values of silver today closed higher on firm advice from global markets while that of gold maintained a steady note on moderate ornment-makers' demand, traders at the bullion market here said.

Silver opened lower at Rs 13,465 on better offers from stockists.

Later, the price was up slightly by Rs five and closed at Rs 13,490 per kg from it last 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 9.58/9.60 per troy ounce from USD 9.56/9.57 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 8,020 and Rs 8,060 per ten gm. Both the prices closed flat at Rs 8,015 per ten gm for standard mint gold and Rs 8,055 per ten gm for pure gold, from their last close.

There were scattered offers by stockists due to sufficient stocks and moderate demand from ornament makers.

The yellow metal was also quoted steady at USD 552.20/553.50 per troy ounce from USD 552.10/553.40 per troy ounce at its previous close, traders added.

Following were the spot silver and gold prices today: Silver (per kg) .999 grade : Rs 13,490 (Rs 13,485), Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,015 (Rs 8,015), Pure 99.9 purity : Rs 8,055 (Rs 8,055).

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