Pure Gold closes at 6 1/2 month high: Silver also advances

Mumbai, Sep 18 (UNI) Pure Gold continued to zoom upwards, closing at a six and an half month high of Rs 9,510 per ten gm today with a gain of Rs 110 even as Silver shot up by Rs 205 on distinctly firm advice from global and upcountry markets, traders at the Bombay Bullion Association said.

Silver fineness opened higher at Rs 17,620 per kg on scattered industrial users demand. Later, it closed firm at Rs 17,735 per kg with a massive gain of Rs 205 from the previous day's close on lesser offers by stockists along with firm advice from global and upcountry markets. The White metal has soared up by Rs 325 in the last two days.

In London, New York and Asian countries, white metal hardened around at USD 12.90/12.95 per troy ounce against USD 12.55/12.65 per troy ounce, the previous day.

Similarly, standard gold (99.5) and pure gold (99.9) also opened positive at Rs 9,425 and Rs 9,475 per ten gm on fresh ornament makers demand.

Later, the yellow metal closed at a six and an half months high at Rs 9,470 per ten gm for standard mint and pure gold at Rs 9,510 per ten gm with a smart gain of Rs 115 for standard mint and for pure gold by Rs 110 from their last close. Yellow metal has shot up by over Rs 200 in a couple of days.

Stockists reserved their stocks in view of encouraging advice from global and upcountry markets. However, there was little ornament makers demand in the local market.

In London, New York and Asian markets, Yellow metal was up around at USD 718.25/722.00 per troy ounce as compared to USD 710.25/714.50 per troy ounce the previous day.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 17,735 (17,530) Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,470 (9,355) Pure gold 99.9 purity : Rs 9,510 (9,400) UNI