Silver, gold close higher on firm advice from global markets

Mumbai, Sep 10 (UNI) Both the precious metals today closed higher owing to fresh demand from retailers with Silver up by Rs 20 per kg and Gold by Rs 25 per ten gm on the Bombay Bullion Exchange.

Silver fineness opened lower at Rs 17,495 per kg on selling pressure by stockists. Later, it recovered and closed positive at Rs 17,550 with a modest gain of Rs 20 from previou day's close of Rs 17,530 on fresh industrial users demand along with bullish advice from global and upcountry markets.

In London and New York, Silver inched up around at USD 12.52/12.58 per troy ounce against USD 12.45/12.50 per troy ounce on the previous day.

Similarly, standard gold (99.5) and pure gold (99.9) also opened lower at Rs 9,260 and Rs 9,310 on lack of fresh interest from local dealers.

Later, the yellow metal slightly improved and closed firm at Rs 9,295 and Rs 9,345 with a marginal gain of Rs 25 each from its last close. There was fresh seasonal ornament makers demand in view of firm advice from global markets.

In London, New York and Asian markets, Yellow metal was up at USD 7005.50/707.50 per troy ounce as compared to USD 696.00/699.00 per troy ounce in the earlier day.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 17,550 (17,530) Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,295 (9,270) Pure gold 99.9 purity : Rs 9,345 (9,320) UNI