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Silver closes at new peak Rs 15,000,gold rises on firm global advice

Written by: Staff

Mumbai, Mar 26 (UNI) Prices of silver climbed new high at Rs 15,210-mark per kg while that of gold shone brighter at Rs 8,150 per ten gm on a reduced stock supply along with firm advice from global markets, during the week ended yesterday, traders said.

Both white and yellow metals showed a massive gain of Rs 725 per kg and Rs 95 per ten gm respectively during the week, traders at the Bombay Bullion Association said.

Silver .999 fineness grade opened high on Monday at Rs 14,515 per kg on improved demand from domestic industrial users. It crossed Rs 15,000-mark on Friday in mid-session and closed at the weekend at Rs 15,210 per kg with a massive gain of Rs 725.

Sellers were hoarding their stocks on increase of fresh demand from ornament makers. Its low of Rs 14,465 was on March 21.

In the global markets, silver rose at USD 10.70/10.75 per troy ounce during the week ended on last Friday, as against its previous week's close of USD 10.30/10.35, they added.

Standard mint gold (99.5) also opened high at Rs 8,030 per ten gm on Monday, on improved demand. Its high of Rs 8,105 was on March 25 and a low of Rs 7,965 on March 21, before closing at the weekend of Rs 8,105 per ten gm.

Pure gold (99.9) also opened high on Monday at Rs 8,070 per ten gm on better buying support. It reported its low on March 21 at Rs 8,010 and high at Rs 8,150 on March 25, and closed at the week end at Rs 8,150.

Both the yellow metal made a handsome gain of Rs 95 each from their last week's close.

There was heavy marriage season demand from jeweller's on reduced stock supply along with bullish advice from global markets.

Meanwhile, in the global markets like London, gold was at around USD 559.90/560.00 per troy ounce during the week ended on March 24 as against the previous week's close of USD 550.90/554.00, traders added.


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