Precious metals upswing on bullish global advice

Mumbai, Jan 14 (UNI) Precious metals were on the upswing on bullish global advice as white metal shot up by Rs 710 per kg and gold by Rs 240 per ten gm during the week ended January 13, on the Bombay Bullion Exchange.

Silver .999 fineness grade opened lower on Monday at Rs 18,650 per kg on thin buying support from domestic industrial users. The white metal recorded a high of Rs 19,485 on January 13 and low at Rs 18,650 per kg on January eight before finally closing at Rs 19,430 per kg with a massive gain of Rs 710 per kg from its previous close last weekend, traders said.

In the global markets, Silver also closed upwards to USD 12.80/12.86 per troy ounce during the week ended on Friday as compared to the previous weekend close of USD 12.20/12.25 per troy ounce.

Similarly, standard mint Gold (99.5 fineness) opened slightly higher on Monday at Rs 8,820 per ten gm followed by pure Gold (99.9 fineness) also opened high at Rs 8,870 per ten gm on good demand from ornament makers.

The yellow metal registered a high at Rs 9,050 on January 13 for standard mint and Rs 9,100 for pure Gold on the same day.

Standard mint Gold recorded a low of Rs 8,820 per ten gm on January 8. Likewise, pure Gold also registered a of Rs 8,870 per ten gm on January 8. Finally, both the yellow metal closed quite high at Rs 9,050 for standard Gold and Rs 9,100 for pure Gold with a massive huge of Rs 245 and Rs 240 respectively from their last week's close.

Meanwhile, in London, Gold came down to USD 623/626.00 per troy ounce during the week ended January 12 as compared to the previous week's close of USD 603.50/606.00, traders added.

UNI