Silver at 3-1/2 mts high, gold rises on fresh buying support

Mumbai, Sep 5 (UNI) Spot silver climbed at three-and-a-half months high at Rs 20,010 per kg while pure gold rose to Rs 9,525 per ten gm increase of fresh demand, traders at the Bombay Bullion Association today said.

Silver .999 fineness variety opened high at Rs 19,870 per kg on good demand. Later it crossed Rs 20,000 mark in mid-session. Finally it closed three-and-a-half months high at Rs 20,010 per kg with massive gain of Rs 190 from its yesterday's close.

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

In London, silver was quoted high at USD 13.20/13.24 per troy ounce, compared to its last close of USD 13.00/13.01 per troy ounce in New York on Monday.

Similarly, standard gold (99.5) and pure gold (99.9) also opened upwards at Rs 9,450 and Rs 9,500 per ten gm, respectively, on improved demand.

Later, both the yellow metal closed at Rs 9,475 and Rs 9,525 per ten gm with a gain of Rs 40 each from their last close.

There was increase of fresh demand by stockists in view of better advice from global markets.

In New York, the yellow metal also quoted high at USD 630.10/631.00 per troy ounce, compared to its previous close of 626.50/627.00 per troy ounce, traders added.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 20,010 (Rs 19,820), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,475 (Rs 9,435), Pure gold 99.9 purity : Rs 9,525 (Rs 9,485).

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