Gold, silver prices rise on better demand

Mumbai, June 26 (UNI) Values of gold and silver rose on fresh demand, traders at the Bombay Bullion Association said today.

Standard gold (99.5 purity) and pure gold (99.9 purity) opened high at Rs 8,785 and Rs 8,830 per 10 gm, respectively.

Both the yellow metals closed slightly higher at Rs 8,790 and at Rs 8,835 per 10 gm with a gain of Rs 40 each from their Saturday's close.

There was an better buying support by stockists on reduced stocks supply.

In London, yellow metal was quoted high at USD 583/584.00 per troy ounce, as compared to USD 582.50/583.00 per troy ounce at New York Friday.

Similarly, silver .999 fineness variety also opened upwards at Rs 16,135 per kg on increase of fresh demand. Later, it ruled strong and closed at Rs 16,165 per kg with a gain of Rs 65 from its previous close.

There was good demand from local dealers and industrial users along with encouraging advice from overseas markets.

In London, silver was quoted high at US dollar 10.39/10.40 per troy ounce against USD 10.33/10.34 at New York, traders pointed out.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 16,165 (Rs 16,100), Gold (per 10 gm): Standard mint 99.5 puri : Rs 8,790 (Rs 8,750), Pure gold 99.9 purity : Rs 8,835 (Rs 8,795).

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