Precious metals recover on bullish global advices

Mumbai, July 3 (UNI) Both the precious metals recovered on bullish global advices with Silver gaining by Rs 150 per kg and Gold by Rs 50 per ten gm on good demand, traders at the Bombay Bullion Association said today.

Silver fineness .999 opened high at Rs 17,550 per kg on better buying support demand. Later, it remained steady on moderate demand and closed at the same level with a gain of Rs 150 from yesterday's close of Rs 17,400.

In London, silver edged up at 12.60/12.63 per troy ounce against 12.47/12.50 per troy ounce.

Similarly, standard gold (99.5) and pure gold (99.9) also opened upwards at Rs 8,680 and Rs 8,725 per ten gm on increase of fresh demand. Later, the yellow metal fell slightly and closed at Rs 8,660 and Rs 8,710 per ten gm with a gain of Rs 50 each from its last close.

In the overseas market, gold inched up to 653/657 per troy ounce against 650/653 per troy ounce on Monday.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 17,550 (17,400), Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,660 (8,610) Pure gold 99.9 purity : Rs 8,710 (8,660) UNI