Gold closes at 8 week high, silver 6 week high

Mumbai, July 15: Values of gold closed at eight-week high and quoted high at Rs 10,050 per ten gm today while silver also six week high rose and touched high at Rs 18, 315 per kg on fresh demand from jewellers along with bullish advice from global markets, traders at the Bombay Bullion Association said.

Pure gold (99.9 purity) variety closed at eight-week high at Rs 10,000 per tne gm, before it opened slightly lower at 9,990 in the opening session.

Similarly, standard gold (99.5 purity) resumed high at Rs 10,040 and closed eight week high at Rs 10,050 per ten gm.

Both made a huge gain of Rs 60 each from their yesterday's close.

There was fresh demand by stockist on encouraging adivce from overseas markets.

In London, the yellow metal was quoted high at USD 666.00/666.40 per troy ounce, as compared to USD 661.50/662.00 per troy ounce at New York on Friday.

Silver .999 fineness variety, however, opened low at Rs 18,190 per kg on sustained heavy selling pressusre. Later, it improved and closed six week high of Rs 18,315 per kg with a gain of Rs 15 from its last close.

There was better buying support from local dealers and industrial users in view of firm advice from global markets.

In London, silver was quoted high at US dollar 11.61/11.62 per troy ounce as compared to its last close of USD 11.46/11.49 at New York, traders pointed out.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 18,315 (Rs 18,300), Gold (per 10 gm): Standard mint 99.5 purity : Rs 10,000 (Rs 9,940), Pure gold 99.9 purity : Rs 10,050 (Rs 9,990).

UNI