Gold at all time high, silver rises

Mumbai, May 5 (UNI) Prices of spot gold once again rose at all time high at Rs 9,990 per ten gm while silver recovered at Rs 20,900 per kg on bullish global advice, traders at the bullion market today said.

Standard gold (99.5 purity) and pure gold (99.9 purity) also opened high at Rs 9,920 and Rs 9,970 per 10 gm, respectively.

Both the yellow metals closed at all time high at Rs 9,945 and Rs 9,990 per 10 gm, respectively, with a massive gain of Rs 215 for standard gold and Rs 205 for pure gold from its yesterday's close.

There was heavy demand from ornament makers as sellers were hoarding their stocks.

Reports from abroad says that gold hit a 25-year high on Friday on persistent fund buying sparked by a weak dollar and tension in the Middle East over Iran's nuclear ambitions.

In London also, gold was quoted high at USD 678.50/679.00 per troy ounce against the previous close of USD 662.50/663.00 per troy ounce in New York on Thursday.

Silver .999 fineness variety also opened upward at Rs 21,005 per kg on better buying support. Later, it closed at Rs 20,900 per kg with a huge gain of Rs 195 from its previous close.

There was good demand from jewellery makers on reduced stock supply.

In London, the white metal was quoted high at US dollar 13.95/14.00 per troy ounce against USD 13.60/13.70 per troy ounce on Thursday in New York.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 20,900 (Rs 20,705), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,945 (Rs 9,730), Pure gold 99.9 purity : Rs 9,990 (Rs 9,785).

UNI VD PM SKB1806