Gold, silver prices rise on bullish global advice

Mumbai, May 24 (UNI) Values of spot gold and silver rose smartly on bullish global advice, traders at the bullion market said today.

Standard gold (99.5 purity) and pure gold (99.9 purity) opened this morning at Rs 9,880 and Rs 9,930 per 10 gm, respectively, on improved demand by local dealers.

Both the yellow metals closed high at Rs 9,850 and Rs 9,900 per 10 gm, with a gain of Rs 115 for standard gold and Rs 110 for pure gold from their yesterday's close.

There were higher demand by stockists due to bullish advice from international markets.

In London, gold was quoted high at USD 661.50/662.00 per troy ounce against the previous close of USD 650/659 per troy ounce in New York on Tuesday.

Silver .999 fineness variety also opened high at Rs 19,855 per kg on better advice. Later, it closed at Rs 19,690 per kg with a of Rs 195 from its previous close.

There was better buying support from stockists along with good advice from overseas market.

In London, the white metal was quoted high at US dollar 12.60/12.70 per troy ounce against USD 12.80/12.82 per troy ounce in New York on yesterday, which remained weak in the domestic prices, traders added.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 19,690 (Rs 19,495), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,850 (Rs 9,735), Pure gold 99.9 purity : Rs 9,900 (Rs 9,790).

UNI VD/AR GK VKG1805