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Silver climbs new high, gold rises on bullish global advice

Written by: Staff

Mumbai, Mar 24 (UNI) Values of silver climbed a new high today at Rs 15,020 per kg while gold rose at Rs 8,030 per ten gm on bullish global advice, traders at the bullion market here said.

Silver spiked to a new high in more than 22-years on Friday, with investors pouring money into the white metal on expectations the first silver-backed security is closer to approval by US authorities, says report from abroad.

Silver fineness variety opened high at Rs 14,875 per kg and crossed Rs 15,000-mark in mid-session and closed at Rs 15,020 per kg, with a massive gain of Rs 330 from its yesterday's close.

There was reduced stock supply and encouraging advice from other centres. Fresh buying support was also helping in upward trend sentiments, traders added.

In London, the white metal was quoted high at US dollar 10.68/10.69 per troy ounce, from the previous close of USD 10.48/10.50 per troy ounce on Thursday at New York.

Standard mint gold (99.5 purity) and pure gold (99.9 purity) opened steady at Rs 7,990 and Rs 8,025 per ten gm, respectively.

Prices closed as the same opening levels at Rs 7,990 for standard mint.Pure gold finished high at Rs 8,030 per ten gm.

The prices went up by Rs 25 for standard mint and for pure gold by Rs 20 from their last close.

There was lesser stock supply from ornament-makers, along with improved demand.

The yellow metal was quoted high at USD 549.00/550.00 per troy ounce from the previous close of USD 549.20/550.00 per troy ounce at New York.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 15,020 (Rs 14,690), Gold (per 10 gm): Standard mint 99.5 purity : Rs 7,990 (Rs 7,965), Pure Gold 99.9 purity : Rs 8,030 (Rs 8,010).


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