Gold closes at 25-week high, silver down

Mumbai, Sep 6: Pure gold today closed at a 25-week high of Rs 9,120 per ten gm with a modest gain of Rs 30 from its last close mainly on strong advice from global markets, traders at the Bombay Bullion Association said.

But, silver finished low at Rs 17,205 per kg with a small loss of Rs 10 on lack of fresh demand in view of larger stocks arrivals from upcountry centres.

Silver (fineness) .999 opened low at Rs 17,180 per kg on lack of fresh demand from industrial users. Later, it came fell further and closed negative at Rs 17,205 with a small loss of Rs 10 per kg from its previous close.

Traders said there was increased offers by stockists induced by discouraging advice from global markets.

In London, New York and other markets, the white metal eased around at USD 12.28/12.30 per troy ounce against USD 12.32/12.35 on the previous day.

However, standard gold (99.5) and pure gold (99.9) resumed high at Rs 9,075 and Rs 9,125 on fresh seasonal ornament makers demand.

Later, both prices rallied again and closed at a 25-weeks high at Rs 9,070 per ten gm for standard mint and Rs 9,120 per ten gm for pure gold with modest gains of Rs 30 each from their previous day's close.

In London and other markets, yellow metal was firm at USD 686.25/687.50 per troy ounce as compared to USD 680.25/682.50 per troy ounce on the previous day.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 17,205 (17,215) Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,070 (9,040) Pure gold 99.9 purity : Rs 9,120 (9,090)

UNI