Mixed trend seen again in precious metal prices

Mumbai, July 29: Mixed trend was seen once again in bullion prices as values of gold rose on lesser stock supply while silver eased on thin buying support, traders at the Bombay Bullion Association today said.

Standard gold (99.5 purity) and pure gold (99.9 purity) prices opened crossing Rs 9,600-mark at Rs 9,600 and Rs 9,650 per ten gm on good demand.

There was increase of fresh demand from ornament-makers in view of encouraging advice from overseas market.

Later, both the yellow metals closed slightly higher at Rs 9,610 and at Rs 9,655 per ten gm, with a gain of Rs 65 for standard gold and Rs 60 for pure gold, from their yesterday's close.

In London, the yellow metal was quoted high at USD 634.00/635.00 per troy ounce, as compared to USD 629.50/630.00 per troy ounce at New York on Friday.

Silver .999 fineness variety opened low at Rs 18,000 per kg. Later, it closed at Rs 18,005 per kg with a loss of Rs 10 from its last close. There was thin buying support by stockists in view of weak advice from overseas markets.

In London, silver was also quoted high at US Dollar 11.35/11.36 per troy ounce, as compared to its last close of USD 11.39/11.40 at New York, traders pointed out.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 18,005 (Rs 18,015), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,610 (Rs 9,545), Pure gold 99.9 purity : Rs 9,655 (Rs 9,595).

UNI