Gold closes at three months high, silver rise

Mumbai, Sep 7: Pure gold today closed at three months high of Rs 9,260 per ten gm with a zoom of Rs 140 from its last close mainly on lack of offers by stockists in view of bullish advice from global markets, traders at the Bombay Bullion Association said.

While silver finished high at Rs 17,470 per kg with a major gain of Rs 140 on fresh industrial users demand in view of lesser stocks arrivals from upcountry centres.

Silver (fineness) .999 opened firm at Rs 17,335 per kg on fresh demand from industrial users. Later, it rallied further and closed positive at Rs 17,470 with a big gain of Rs 265 per kg from its previous 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 was up around at USD 12.52/12.60 per troy ounce against USD 12.35/12.45 on the previous day.

Similarly, standard gold (99.5) and pure gold (99.9) resumed high at Rs 9,175 and Rs 9,225 on fresh seasonal ornament makers demand.

Later, both prices looked up smartly again and closed at three months high at Rs 9,210 per ten gm for standard mint and Rs 9,260 per ten gm for pure gold with handsome gains of Rs 140 each from their previous day's close.

In London and other markets, yellow metal was firm around at USD 696.00/699.00 per troy ounce as compared to USD 685.25/689.50 per troy ounce on the previous day.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 17,470 (17,205) Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,210 (9,070) Pure gold 99.9 purity : Rs 9,260 (9,120)

UNI