Silver up at 2-1/2 mts high, gold rises on bullish global advice

Mumbai, Sep 1 (UNI) Values of spot silver rose to 2-1/2 month high and closed high at Rs 19,630 per kg and gold hiked at Rs 9,490 per ten gm on increased of fresh demand, traders at the Bombay Bullion Association today said.

Silver .999 fineness variety crossed Rs 19,600 mark and resumed high at Rs 19,670 per kg. Later, it closed two and an half months new peak at Rs 19,630 per kg with a huge gain of Rs 190 from its yesterday's close.

There was reduced stock supply from jewellers in view of better advice from oversea markets.

In London, silver was quoted high at USD 12.75/12.80 per troy ounce, compared to its last close of USD 12.40/12.50 per troy ounce in New York on Thursday.

Similarly, standard gold (99.5) and pure gold (99.9) also opened upwards at Rs 9,475 and Rs 9,525 per ten gm and closed at Rs 9,440 and Rs 9,490 per ten gm with a gain of Rs 40 each from its last close.

There was sluggish offers by stockists in view of encouraging advice from global markets.

In New York, the yellow metal also quoted high at USD 624.10/625.00 per troy ounce, compared to its previous close of 622.50/623.00 per troy ounce.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 19,630(Rs 19,440), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,440 (Rs 9,400), Pure gold 99.9 purity : Rs 9,490 (Rs 9,450).

UNI VD/AR MJ SKB1816