Silver, gold rally on bullish global advice

Mumbai, Oct 27: Spot silver and gold closed higher today on increase of fresh demand and bullish global advice, traders at the Bombay Bullion Association said.

Spot silver .999 fineness variety opened high at Rs 18,644 per kg on good demand. Later it rallied slightly again and closed upward trend at Rs 18,592 per kg with a gain of Rs 109 from its yesterday's close.

There was increase of fresh demand by jewellers in view of better advice from the overseas markets.

Similarly, standard gold (99.5) and pure gold (99.9) also opened upwards at Rs 8,769 and Rs 8,819 per ten gm, respectively.

Both the yellow metal moved further up and closed high at Rs 8,739 and Rs 8,790 per ten gm with a gain modestly of Rs four each for standard gold and pure gold.

There was lesser stock supply from ornament-makers in view of encouraging advice from the global centres.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 18,592 (18,483) Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,739 (8,735) Pure gold 99.9 purity : Rs 8,790 (8,786).

UNI