Silver one-week high, gold rises on bullish global advice

Mumbai, Aug 17 (UNI) Prices of silver today stood a week-high with a gain of Rs 440 per kg while gold rose by Rs 35 per ten gm on bullish global advice, traders at the Bombay Bullion Association today said.

Silver .999 fineness variety resumed after a two-day break at a week high and opened at Rs 19,125 per kg.

Later, it closed at Rs 19,060 per kg with a huge gain of Rs 440 from its Monday's close.

There were heavy demand by stockists in view of better advice from the overseas markets.

In London, silver was quoted high at USD 12.29/12.30 per troy ounce, as compared to its last close of USD 12.08/12.15 per troy ounce in New York on Wednesday.

Similarly, standard gold (99.5 purity) and pure gold (99.9 purity) prices opened high at Rs 9,520 and Rs 9,565 per ten gm respectively on better buying support from jewellery makers.

Later, standard gold closed at the same level at Rs 9,520 per ten gm with a gain of Rs 35 from its last close.

Pure gold also closed high at Rs 9,570 with a gain of Rs 35 from its previous close.

There was increase in fresh demand from ornament-makers in view of good advice from global markets.

In London, the yellow metal was quoted high at USD 628.25/629.00 per troy ounce as compared to USD 624.70/625.45 per troy ounce at New York yesterday.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 19,060(Rs 18,620), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,520 (Rs 9,485), Pure gold 99.9 purity : Rs 9,570 (Rs 9,535).

UNI VD SSS SKB1828