Precious metals glitter on bullish global advice

Mumbai, Aug 21 (UNI) Precious metal glittered on bullish global advice as gold gained Rs 85 per 10 gm and silver by Rs 270 per kg, traders at the Bombay Bullion Association today said.

Standard gold (99.5) opened high at Rs 9,360 per 10 gm on good demand and later closed at Rs 9,390 per 10 gm, with a gain of Rs 85 from its Saturday's close.

Pure gold (99.9) also opened high of Rs 9,410 per 10 gm and closed at Rs 9,440 per 10 gm, with a gain of Rs 85 from its last close.

There was improved demand from ornament makers in view of better advice from global markets.

In London, the yellow metal was quoted high at USD 621.40/622.00 per troy ounce, as compared to USD 614.50/615.00 per troy ounce at New York Friday.

Similarly, silver .999 fineness variety opened high at Rs 19,075 per kg. Later, it closed at Rs 19,180 per kg with a huge gain of Rs 270 from its previous close.

There was reduced stock supply by stockists in view of good advice from overseas markets.

In London, silver was quoted high at USD 12.21/12.22 per troy ounce, as compared to its last close of USD 12.04/12.05 per troy ounce in New York on Friday.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 19,180(Rs 18,910), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,390 (Rs 9,305), Pure gold 99.9 purity : Rs 9,440 (Rs 9,355).

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