Silver, Gold firm up on bullish global advices

Mumbai, June 1 (UNI) Both the precious metals firmed up today with Silver rising by a whopping Rs 220 per kg and Gold by Rs 50 per ten gm on bullish global advices on the Bombay Bullion Association.

Silver fineness .999 opened at two-week high at Rs 18,550 on good demand. Later, it increased on better buying support and closed at Rs 18,595 with a huge gain of Rs 220 from yesterday's close of Rs 18,375.

In London, silver rose to USD 13.51/13.58 per troy ounce against USD 13.20/13.24 per troy ounce in New York.

Similarly, standard gold (99.5) and pure gold (99.9) also opened at two-week high at Rs 8,740 and Rs 8,785 per ten gm respectively on reduced stock supply.

Later, the yellow metal went up slightly and closed at Rs 8,745 and Rs 8,790 respectively with a gain of Rs 55 for standard gold and Rs 50 for pure gold from the last close.

In London, gold inched up to USD 662.00/665.00 per troy ounce as compared to USD 654.00/657.90 per troy ounce in New York on Thursday.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 18,595 (18,375), Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,745 (8,690) Pure gold 99.9 purity : Rs 8,790 (8,740) UNI