Silver, gold zoom up on bullish global advice

Mumbai, Apr 29 (UNI) Prices of silver and gold zoomed up at Rs 20,550 per kg and Rs 9,610 per ten gm on bullish global advice, traders at the bullion market here today said.

Silver .999 fineness variety opened higher at Rs 20,785 per kg on higher demand. Later, it closed at Rs 20,550 per kg with a gain of Rs 775 from its yesterday's close.

There was better buying support from jewellery makers as sellers were hoarding their stocks.

In London, the white metal was quoted high at US dollar 13.70/13.78 per troy ounce against USD 12.50/12.56 per troy ounce on Friday in New York.

Standard gold (99.5 purity) and pure gold (99.9 purity) also opened higher at Rs 9,570 and Rs 9,620 per 10 gm, respectively.

Both the yellow metals closed at Rs 9,560 and Rs 9,610 per 10 gm, respectively, with a gain of Rs 215 for standard gold and Rs 220 for pure gold from its last close.

There was increase of fresh demand from ornament-makers due to the ongoing marriage season.

In London also, gold was quoted high at USD 650/654 per troy ounce against the previous close of USD 630/637 per troy ounce in New York yesterday.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 20,550 (Rs 19,775), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,560 (Rs 9,345), Pure gold 99.9 purity : Rs 9,610 (Rs 9,390).

UNI VD/AR KU SKB1526