Silver touches new peak of Rs 22,950 per kg, gold at Rs 9,560 ten gm

Mumbai, Apr 20 (UNI) Prices of spot gold and silver touched a new peak at Rs 9,560 per ten gm and Rs 22,950 per kg respectively, mainly on bullish global advice, traders at the bullion market here said.

Standard mint gold (99.5 purity) and pure gold (99.9 purity) opened high at Rs 9,420 and Rs 9,465 per 10 gm respectively, but later, both the yellow metals closed higher and closed at Rs 9,500 and Rs 9,560 per ten gm with a huge gain of Rs 285 for standard gold and Rs 290 for pure gold from its yesterday's close.

Reports from abroad said that gold gained more on Thursday as investors bet the rally driving prices to the highest in a quarter century was gaining moment.

Gold in London was quoted high at USD 639/640 per troy ounce from the previous close of USD 624/625 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 crossing Rs 22,000 mark at Rs 22,535 per kg and ruled still higher and closed at Rs 22,950 per kg with a massive gain of Rs 1,115 from its last close.

There was good demand from ornament makers on reduce stock supply from other centres. Traders received firm advice from global market which helped to boost in the domestic prices.

In London, the white metal was quoted high at US dollar 14.40/14.60 per troy ounce, against USD 13.08/13.21 per troy ounce on Wednesday in New York.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 22,950 (Rs 21,835), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,500 (Rs 9,215), Pure gold 99.9 purity : Rs 9,560 (Rs 9,270).

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