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Bullish global advice takes silver, gold to all-time high

Written by: Staff

Mumbai, Apr 6 (UNI) Values of silver and gold today zoomed up to their all-time peak, on bullish global advice, traders at the bullion market here said.

Silver fineness variety opened high at Rs 17,545 per kg. Later it crossed Rs 17,800-mark in mid-session and closed at Rs 17,870 per kg, with a massive gain of Rs 385 from its yesterday's close.

There was increase of fresh demand from ornament makers, along with encouraging advice from other global markets.

In London, the white metal was quoted high at US dollar 11.90/12.00 per troy ounce, from the previous close of USD 11.66/11.70 per troy ounce yesterday in New York.

Standard mint gold (99.5 purity) and pure gold (99.9 purity) opened high at Rs 8,585 and Rs 8,630 per ten gm, respectively.

Later, standard gold crossed the Rs 8,600 mark in mid-session and closed at Rs 8,665 per ten gm. Pure gold also opened high at Rs 8,630 per ten gm and in mid-session crossed Rs 8,700-mark and closed at Rs 8,710 per ten gm.

Both the yellow metals had a huge gain of Rs 155 from their yesterday's close.

There was heavy buying support, as sellers were hoarding their stocks because of the marriage season demand.

Reports from abroad said spot gold edged up today after firm oil prices and a weaker dollar against the euro bolstered prices in New York, but traders were careful about chasing gold too strongly ahead of key events.

Gold was quoted high at USD 594.00/595.00 per troy ounce in London from the previous close of usd 584.00/585.00 per troy ounce in New York.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 17,870 (Rs 17,485), Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,665 (Rs 8,510), Pure gold 99.9 purity : Rs 8,710 (Rs 8,555).


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