Silver climbs to a new peak, gold steady

Mumbai, Mar 29: Values of silver climbed a new peak today( Mar 29, 2006) at Rs 15,755 per kg, while gold remained steady at Rs 8,240 per ten gm on moderate demand, traders at the bullion market here said.

Silver fineness variety opened low at Rs 15,635 per kg and closed higher at Rs 15,755 per kg, with a gain of Rs 45 from its yesterday's close.

Sellers were hoarding their stocks in view of reduced stock supply and encouraging advice from other centres.

In London, the white metal was quoted high at US dollar 10.85/10.90 per troy ounce, from the previous close of USD 10.80/10.84 per troy ounce on Monday at New York.

Standard mint gold (99.5 purity) and pure gold (99.9 purity) opened low at Rs 8,185 and Rs 8,225 per ten gm, respectively.

Both the yellow metal closed high at Rs 8,200 and Rs 8,240 per ten gm with respectively, and remained steady from their last close.

There was moderate demand from ornament-makers, along with firm advice from overseas markets.

Gold was quoted at USD 564.90/564.00 per troy ounce at London from the previous close of USD 564.00/564.25 per troy ounce at New York.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 15,755 (Rs 15,710), Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,200 (Rs 8,200), Pure Gold 99.9 purity : Rs 8,240 (Rs 8,240).

UNI