Silver, Gold close upward

Mumbai, July 18 (UNI) Both the precious metals closed firm today with Silver gaining by Rs 65 per kg and Gold shot up by Rs 55 per ten gm, mainly on fresh ornament makers demand coupled with firm advices from global markets, traders at the Bombay Bullion Association said.

Silver fineness .999 opened higher at Rs 17,895 per kg on scattered buying support. Later, it further went up and closed firm at Rs 17,900 per kg with a major gain of Rs 65 from its last close of Rs 17,835.

In London, Silver remained higher at 12.96/12.98 per troy ounce, compared to its last close of 12.90/12.92 per troy ounce.

Similarly, standard gold (99.5) and pure gold (99.9) also resumed positive at Rs 8,770 and at Rs 8,820 per ten gm on fresh speculative demand from local dealers in view of forthcoming marriage and festival seasons.

Later, the yellow metal moved up sharply and closed firm at Rs 8,765 and Rs 8,815 per ten gm. with gain of Rs 55 for standard mint and for pure gold from their last close.

In the London market, gold was quoted higher at 665/666 per troy ounce against 660/662 per troy ounce, which helped to boost domestic prices, traders pointed out.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 17,900 (17,835) Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,765 (8,710) Pure gold 99.9 purity : Rs 8,815 (8,760) UNI