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Silver, gold close firm on bullish global advice

Written by: Staff

Mumbai, Oct 28 (UNI) Spot silver and gold closed firm today on renewed fresh demand and bullish global advice, traders at the Bombay Bullion Association said.

Spot silver .999 fineness variety opened high at Rs 18,614 per kg on good demand. Later, it rallied slightly and closed at Rs 18,641 per kg with a gain of Rs 49 from its yesterday's close.

There were lack of offers by stockists in view of better advice from the overseas markets.

At London, the white metal quoted high at USD 12.04/12.06 per troy ounce against USD 11.90/11.95 per troy ounce at New York.

Similarly, standard gold (99.5) and pure gold (99.9) also opened upwards at Rs 8,819 and Rs 8,875 per ten gm respectively.

Both the yellow metals moved further up and closed high at Rs 8,826 and Rs 8,877 per ten gm with a modest gain of Rs 87 each for standard gold and pure gold.

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

At London, the yellow metal touched high at USD 595/597 per troy ounce compared to USD 588/590 per troy ounce at New York, which helped boost both domestic prices, traders added.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 18,641 (18,592) Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,826 (8,739) Pure gold 99.9 purity : Rs 8,877 (8,790).


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