Silver crosses Rs 20,000 mark, gold rises high

Mumbai, Apr 17 (UNI) Prices of spot silver closed at Rs 20,200 per kg, while gold closed at Rs 8,965 per ten gm respectively on bullish global advice, traders at the bullion market said today.

Silver .999 fineness variety resumed crossing Rs 20,000 mark at Rs 20,155 and ruled still higher and closed at Rs 20,200 per kg with a massive gain of Rs 310 from its Saturday's close.

There was fresh buying supprt from ornament makers as sellers were hoarding their stocks due to lesser stocks supply from other centres.

In London, the white metal was quoted high at US dollar 13.23/13.26 per troy ounce, against USD 12.90/12.98 per troy ounce on Friday in New York.

Standard mint gold (99.5 purity) and pure gold (99.9 purity) also opened high at Rs 8,910 and Rs 8,955 per 10 gm, respectively.

Later, both the yellow metal closed higher at Rs 8,920 and Rs 8,965 per ten gm with a gain of Rs 65 for standard gold and Rs 60 for pure gold respectively from its last close.

Gold also quoted high at USD 604.90/605.00 per troy ounce in London from the previous close of USD 600.00/600.30 per troy ounce in New York on the previous day.

There was increase of fresh demand by jewellery makers as there was reduced stock supply in view of ongoing marriage season.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 20,200 (Rs 19,890), Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,920 (Rs 8,855), Pure gold 99.9 purity : Rs 8,965 (Rs 8,905).

UNI VD KU AW1856