Gold rates move up, silver down

Mumbai, Apr 28 (UNI) Mixed trend was seen in bullion prices as silver closed lower on weak advice from global markets while gold rose modestly on fresh seasonal demand from local dealers, traders at the bullion market here today said.

Standard gold (99.5 purity) and pure gold (99.9 purity) opened at high rates this morning at Rs 9,345 and Rs 9,405 per 10 gm, respectively.

Both the yellow metals closed at Rs 9,345 and Rs 9,390 per 10 gm, respectively, with a gain of Rs 50 each from their yesterday's close.

There was improved demand from ornament-makers due to the ongoing marriage season.

In London also, gold was quoted high at USD 636/637 per troy ounce against the previous close of USD 630/632 per troy ounce in New York yesterday.

Silver .999 fineness variety also opened upward at Rs 19,920 per kg on higher demand. Later, it closed downward at Rs 19,775 per kg with a loss of Rs 100 from its last close.

There was thin buying support from jewellery makers on sustained heavy selling pressure from other centres.

In London, the white metal was quoted low at US dollar 12.50/12.56 per troy ounce against USD 12.70/12.74 per troy ounce yesterday in New York.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 19,775 (Rs 19,875), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,345 (Rs 9,295), Pure gold 99.9 purity : Rs 9,390 (Rs 9,340).

UNI VD/AR GK SKB1814