Silver, gold rose on bullish global advice

Mumbai, Oct 9 (UNI) Spot silver and gold rose on better buying support and on bullish global advice, traders at the Bombay Bullion Association today said.

Spot silver .999 fineness variety opened higher at Rs 18,055 per kg on better buying support. It improved in mid-session and closed at Rs 18,155 per kg with huge gain of Rs 265 from Saturday's close.

There was increase of fresh demand from industrial users in view of good advice from the overseas market.

In London, silver was quoted high at USD 11.30/11.38 per troy ounce as compared to its last close of USD 11.10/11.12 per troy ounce in New York on Friday.

Similarly, standard gold (99.5) and pure gold (99.9) opened high at Rs 8,640 and Rs 8,690 per ten gm, respectively.

Both the yellow metals fell slightly and closed high at Rs 8,635 and Rs 8,685 per ten gm with a gain of Rs 85 each from its last close.

There was reduced stock supply from local market and encouraging advice from the global centres.

In London, gold was quoted high at US dollar 575.00/578.00 per troy ounce against USD 570.50/573.00 per troy ounce at New York.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 18,155 (17,890) Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,635 (8,550) Pure gold 99.9 purity : Rs 8,685 (8,600).

UNI VD MJ SKB1812