Precious metals rise on bullish global advices

Mumbai, Aug 5: Spot silver and gold rose by Rs 355 per kg and Rs 110 per ten gm respectively on bullish global advices during the week ended August 4 on the Bombay Bullion Exchange.

Silver .999 fineness grade opened low on Monday last at Rs 17,635 per kg on lack of fresh demand from domestic industrial users. The white metal recorded the high of Rs 18,005 on August 4 and low of Rs 17,650 per kg on July 30 and closed at Rs 18,005 per kg with a gain of Rs 355 from its last weekend's close, traders said.

In the global market, silver closed at USD 13.8/13.10 per troy ounce during the week ended August 3.

However, standrad mint gold 99.5 (fineness) opend upward on Monday last at Rs 8,720 per ten gm followed by pure gold (99.9 fineness) at Rs 8,770 per ten gm on good demand from ornament makers.

The yellow metal registered a high of Rs 8,825 on August 4 and of Rs 8,875 for pure gold on the same day.

Standrad mint gold recorded a low of Rs 8,700 on August 1.

Likewise, pure gold also registered a low of Rs 8,750 on the same day.

Finally, standard gold and pure gold closed at Rs 8,825 and Rs 8,875 with a gain of Rs 110 respectively from their last close.

Meanwhile, in London, gold was USD 664/666.50 per troy ounce during the week ended August 3.

UNI