Gold closes at four months high, silver also rises

Mumbai, Sep 5 (UNI) Gold today closed at a four months high of Rs 9,090 per ten gm with a major gain of Rs 100 even as Silver finished at Rs 17,215 per kg with a handsome gain of Rs 230 on lack of offers by stockists in view of bullish advice from global and upcountry centres, traders at the Bombay Bullion Exchange said.

Trading resumed after yesterday's holiday, Silver (fineness) .999 was opened at a high of Rs 17,210 per kg on fresh demand from local dealers. Later, it moved further up and closed firm at Rs 17,215 with a big gain of Rs 230 per kg from its previous day's close.

Traders said there was lack of offers by stockists induced by encouraging advice from global markets.

In London, New York and other markets, the white metal rose to USD 12.18/12.22 per troy ounce against USD 12.12/12.16 earlier.

Similarly, standard gold (99.5) and pure gold (99.9) crossed Rs 9,000 mark and touched a four month high at Rs 9045 for standard mint and for pure gold at Rs 9095 at the opening session on fresh seasonal ornament makers demand.

Later, both prices rallied again and closed four months high at Rs 9,040 per ten gm for standard mint and for pur gold at Rs 9,090 per ten gm with handsome gain of Rs 100 each from their previous day's close.

Traders said sellers reserved their stocks in view of forthcoming festival season and also strong global advice.

In London and other markets, yellow metal was firm around at USD 680.00/682.25 per troy ounce as comapared to USD 672.25/675.50 per troy ounce on the previous day.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 17,215 (16,985) Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,040 (8,940) Pure gold 99.9 purity : Rs 9,090 (8,990) UNI