Silver, Gold close firm on strong global advice

Mumbai, July 31 (UNI) Both the precious metals today closed higher on fresh demand from ornament makers with Silver up by Rs 190 per kg and Gold by Rs 45 per ten gms, traders at the Bombay Bullion Association said.

Silver (fineness) resumed higher this morning at Rs 17,770 per kg on some improved buying support. Later, it rose and closed high at Rs 17,845 per kg.with a handsome gains by Rs 190 from its last close on sustained heavy speculative demand. Sellers reserved their stocks in view of firm advice from global markets.

In London, silver edged up at USD 13.04/13.06 per troy ounce as compared to its last close of USD 12.70/12.72 per troy ounce.

Similarly, spot standard gold (99.5) and pure gold (99.9) opened high at Rs 8,750 and Rs 8,800 per ten gm respectively on fresh buying support from local dealers.

Later, standard gold and pure gold closed firm at Rs 8,760 and Rs 8,810 per ten gm respectively. The prices rose by Rs 40 for standard mint gold and for pure gold by Rs 45 from their last close.

In the London market, gold was firm at 666/668 per troy ounce against 656/658 per troy ounce, traders said.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 17,845 (17,650) Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,760 (8,720) Pure gold 99.9 purity : Rs 8,810 (8,765) UNI