Gold, silver prices recover on bullish global advice

Mumbai, May 26 (UNI) Values of spot gold and silver recovered on bullish global advice, traders at the bullion market said today.

Standard gold (99.5 purity) and pure gold (99.9 purity) opened high this morning at Rs 9,705 and Rs 9,755 per 10 gm, respectively, on fresh demand by local dealers.

Both the yellow metals remained firm and closed upward at Rs 9,700 and Rs 9,755 per 10 gm, with a smart gain of Rs 90 for standard gold and Rs 95 for pure gold from their yesterday's close.

There were better buying support by stockists along with bullish advice from international markets.

In London, gold was quoted high at USD 652.50/653.00 per troy ounce against the previous close of USD 660/662 per troy ounce in New York on Thursday.

Silver .999 fineness variety also opened high at Rs 19,545 per kg on good advice. Later, it closed firm at Rs 19,455 per kg with a gain of Rs 90 from its previous close. There was good demand from stockists along with better advice from overseas market.

In London, the white metal was quoted high at US dollar 12.70/12.71 per troy ounce against USD 12.40/12.45 per troy ounce in New York on yesterday, which remained good in the domestic prices, traders added.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 19,455 (Rs 19,365), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,700 (Rs 9,610), Pure gold 99.9 purity : Rs 9,755 (Rs 9,660).

UNI VD/AR SSS VKG1810