Silver zooms, gold also rises on bullish global advice

Mumbai, Jan 28 (UNI) Spot silver zoomed by Rs 575 per kilogram while gold also rose by Rs 145 per ten grams on bullish global advice during the week ended January 27 on the Bombay Bullion Exchange.

Silver .999 fineness grade opened steady Monday last at Rs 19,400 per kg on moderate demand from domestic industrial users. The white metal recorded a high of Rs 19,975 on January 27 and low of Rs 19,400 per kg on January 22 and closed at Rs 19,975 per kg with a massive gain of Rs 575 from its last weekend close, traders said.

In the global markets, silver closed high at USD 13.30/13.36 per troy ounce during the week ended January 26 as compared to the previous weekend close of USD 12.83/12.86 per troy ounce.

Similarly, standard mint gold (99.5 fineness) opened slightly high Monday last at Rs 9,150 per ten gm followed by pure gold (99.9 fineness) at Rs 9,200 per ten gm on good demand from ornament makers.

The yellow metal registered a high of Rs 9,290 on January 27 for standard mint and Rs 9,340 for pure gold on the same day.

Standard mint gold recorded a low of Rs 9,125 per ten gm on January 22. Likewise, pure gold also registered a low of Rs 9,175 per ten gm on the same day. Finally, both the yellow metals closed quite high at Rs 9,290 for standard gold and Rs 9,340 for pure gold with a huge gain of Rs 145 each from their last week close.

Meanwhile, in London, gold was USD 643/646.00 per troy ounce during the week ended January 26 as compared to the previous week's close of USD 624.50/627.00, traders added.

UNI