Silver, Gold zooms up on bullish global advices

Mumbai, Nov 26 (UNI) Silver zoomed up by Rs 485 per kg and Gold rose by Rs 205 per ten gm on increase of fresh demand and on bullish global advices during the week ended November 25 at the Bombay Bullion Exchange.

Silver .999 fineness grade opened high on Monday at Rs 19,295 per kg on good demand from domestic industrial users.

The white metal recorded 11-week high of Rs 19,725 on November 25 and a low of Rs 19,265 per kg on November 21, before finally closing at Rs 19,725 per kg during the week-end with a massive gain of Rs 485 from its previous week-end close, on increase of fresh demand from industrial users and ornament makers, traders said.

The trend was also marked in global markets as Silver rose to USD 13.40/13.45 per troy ounce during the week ended on Friday compared to the previous week-end close of USD 12.78/12.81 per troy ounce.

Similarly, standard mint Gold (99.5 fineness) opened high on Monday at Rs 9,090 per ten gm on better buying support while pure Gold (99.9 fineness) also opened upwards at Rs 9,140 per ten gm on good demand from ornament makers.

The yellow metal rose and closed at 11-week high at Rs 9,280 for standard mint and Rs 9,325 for pure Gold on November 25 with a huge gain of Rs 205 for standard gold and Rs 200 for prue gold from its last week's close.

Standard mint Gold recorded a high of Rs 9,280 on November 25 and a low of Rs 9,110 on November 21. Likewise, pure Gold registered a high of Rs 9,325 on November 25 and a low of Rs 9,155 on November 21 per 10 gms.

Meanwhile, in London, Gold went up at USD 635/638.00 per troy ounce during the week ended November 24 against the previous week's close of USD 620.50/622.00, traders added.

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