Gold, silver recover on improved demand

Mumbai, June 3 (UNI) Values of gold and silver recovered on improved demand, traders at the bullion market today said.

Standard gold (99.5 purity) and pure gold (99.9 purity) opened high this morning at Rs 9,520 and Rs 9,565 per 10 gm, respectively.

Both the yellow metals closed at Rs 9,510 and Rs 9,560 per 10n gm, with a gain of Rs 80 each from their yesterday's close.

There was better buying support from stockists along with encouraging advice from global markets.

In London, gold was quoted high at USD 637.50/638.00 per troy ounce against USD 623.50/624.00 per troy ounce from its last close.

Silver .999 fineness variety also opened high at Rs 18,620 per kg on good advice. Later, it closed at Rs 18,570 per kg with a gain of Rs 35 from its previous close. There was good demand from stockists along with overseas markets.

In London, silver was quoted high at US dollar 12.00/12.21 per troy ounce against USD 11.90/11,93 from its last close.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 18,570 (Rs 18,535), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,510 (Rs 9,430), Pure gold 99.9 purity : Rs 9,560 (Rs 9,480).

UNI VD GK AG1507