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Gold crosses Rs 9,000 mark, silver at all time high

By Staff
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Mumbai, Apr 18 (UNI) Prices of spot gold closed a new peak at Rs 9,145 per ten gm while silver closed all time high at Rs 20,640 per kg, respectively, on bullish global advice, traders at the bullion market today said.

Standard mint gold (99.5 purity) and pure gold (99.9 purity) crossed Rs 9,000-mark and both the prices opened high at Rs 9,055 and Rs 9,100 per 10 gm, respectively.

Later, both the yellow metal closed higher at Rs 9,100 and Rs 9,145 per ten gm with a huge gain of Rs 180 each from its yesterday's close.

Reports from abroad say that gold traded to a fresh 25 year high on Tuesday as rising oil prices resurrected fears of inflation.

Gold also quoted high at USD 617.90/618.00 per troy ounce in London from the previous close of USD 605.00/606.30 per troy ounce in New York on the previous day.

There was fresh buying support by jewellery makers as there was lesser stock supply in view of ongoing marriage season.

Silver .999 fineness variety also opened high at Rs 20,450 and ruled still higher and closed at Rs 20,640 per kg with a massive gain of Rs 440 from its previous close.

There was improved demand from ornament makers as sellers were hoarding their stocks due to higher advice from other centres.

In London, the white metal was quoted high at US dollar 13.60/13.64 per troy ounce, against USD 13.20/13.26 per troy ounce on Monday in New York.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 20,640 (Rs 20,200), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,100 (Rs 8,920), Pure gold 99.9 purity : Rs 9,145 (Rs 8,965).

UNI VD AR AW1829

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