Precious metals soar

Mumbai, Feb 11 (UNI) Precious metals were on the upswing following bullish global advice with silver up by Rs 40 per kg and gold up by Rs 105 per ten gram during the week ended February 10 on the Bombay Bullion Exchange.

Silver .999 fineness grade opened downward Monday last at Rs 19,885 per kg owing to a lack of fresh demand from domestic industrial users. The white metal recorded a high of Rs 20,240 on February 10 and a low of Rs 19,885 per kg on Februay 5 before closing at Rs 20,240 per kg with a gain of Rs 40 from its last weekend close, traders said.

In the global markets, silver closed high at USD 13.85/13.88 per troy ounce during the week ended February 10 as compared to the previous weekend close of USD 13.58/13.61 per troy ounce.

Similarly, standard mint gold (99.5 fineness) opened slightly low Monday last at Rs 9,285 per ten gm followed by pure gold (99.9 fineness) at Rs 9,335 per ten gm on poor demand from ornament makers.

The yellow metal registered a high of Rs 9,535 on February 10 for standard mint and Rs 9,585 for pure gold on the same day.

Standard mint gold recorded a low of Rs 9,285 per ten gm on February 5. Likewise, pure gold also registered a low of Rs 9,330 per ten gm on the same day. Finally, both the yellow metals closed quite upward at Rs 9,535 for standard gold and Rs 9,585 for pure gold with a massive gain of Rs 105 each from their last week's close.

Meanwhile, in London, gold was USD 664/667.00 per troy ounce during the week ended February 10 as compared to the previous week's close of USD 649.50/652.00, traders added.

UNI