Gold closes 8 weeks high,silver firm on bullish global advice

Mumbai, July 13 (UNI) Spot gold today closed eight weeks stronger and crossed Rs 8,800 mark, quoting at 8,825 per ten gm while silver also ruled better and finished at Rs 17,980 per kg mainly on firm advice from International markets coupled with some good speculative demand from ornament makers,traders at the Bombay Bullion Association said.

Values of pure gold today again crossed Rs 8,800 mark at the opening session and touched high at Rs 8,820 per ten gm on fresh buying support from local dealers.

Later it maintained firm trend and closed eight week high at Rs 8,825 per ten gm with a big gain of Rs 40 from its last close.

Similarly, standard mint gold also resumed high at Rs 8770 per ten gm. Later it rallied again at Rs 8,775 per gen gm with a modest gain of Rs 35 from its last close.

Traders attributed this firm trend on sustained brisk buying support from ornament makers induced by firm advice from International markets.

In the London market, gold quoted firm at 665/667 per troy ounce against 661/663 per troy ounce on last day at New York market.

Silver fineness .999 also crossed further Rs 17,900 mark at the opening session, after two weeks ago. It opened at Rs 17,960 per kg on fresh speculative demand. Later, it maintained at higher level and closed firm at Rs 17,980 per kg with handsome gain of Rs 170 from its last close.

In London, silver edged up to 13.02/13.05 per troy ounce, compared to its last close of 12.90/12.95 per troy ounce.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 17,980 (17,810), Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,775 (8,740) Pure gold 99.9 purity : Rs 8,825 (8,785) UNI