Gold closes at 4-week high, silver too rises

Mumbai, July 11: Spot gold closed at a four-week high of Rs 8770per ten gm while silver also finished high at 17,740 per kg on strongadvice from global marekts coupled with lack of offers, traders at theBombay Bullion Association said.

Silver fineness .999 opened slightly high at Rs 17,745 per kg ongood demand. Later, it rose and closed at Rs 17,740 per kg with majorgain of Rs 180 from yesterday's close.

In London, silver edged up to 12.90/12.95 per troy ounce, compared to its last close of 12.80/12.85 per troy ounce.

Similarly, standard gold (99.5) and pure gold (99.9) today crossedthe Rs 8700 mark and opened at a four-week high of Rs 8720 for standardgold and for pure gold at Rs 8770 per ten gm on improved buying supportfrom ornament makers.

Later, both the yellow metals closed at a four-week high of Rs8,720 and Rs 8,770 per ten gm with handsome gains of Rs 45 each fromtheir last close.

In the London market, gold quoted firm at 660/665 per troy ounce against 655/658 per troy ounce on Tuesday.

Following are the spot silver and gold closing prices: Silver (perkg) .999 grade : Rs 17,740 (17,560), Gold (per 10 gm): Standard mint99.5 purity : Rs 8,720 (8,675), Pure gold 99.9 purity : Rs 8,770(8,725).

UNI