Precious metals rise on bullish global advice

Mumbai, Jul 8: Spot Silver and Gold rose by Rs 35 per kg and by Rs 10 per ten grams on bullish global advice during the week ended July seven on the Bombay Bullion Exchange.

Silver .999 fineness grade opened low on Monday last at Rs 18,315 per kg on lack of fresh demand from domestic industrial users. The white metal recorded a high of Rs 17,550 on July three and low of Rs 17,285 per kg on July six and closed at Rs 17,545 per kg with a gain of Rs 35 from its last weekend close, traders said.

In the global markets, silver also closed high at USD 12.70/12.74 per troy ounce during the week ended July six as compared to the previous weekend close of USD 12.38/12.41 per troy ounce.

Similarly, standard mint gold (99.5 fineness) also opened weak Monday last at Rs 8,590 per ten gm followed by pure gold (99.9 fineness) at Rs 8,640 per ten gm on poor demand from ornament makers.

The yellow metal registered a high of Rs 8,680 on July three for standard mint and Rs 8,725 for pure gold on the same day.

Standard mint gold recorded a low of Rs 8,520 per ten gm on July six. Likewise, pure gold also registered a low of Rs 9,570 per ten gm on the same day.

Finally, standard gold closed at Rs 8,620 with a gin of Rs five and pure gold closed at Rs 8,670 with a gain of Rs 10 from their last week close.

Meanwhile, in London, gold was USD 750/656.00 per troy ounce during the week ended July six as compared to the previous week's close of USD 648/651, traders added.

UNI