Mumbai: Silver, gold shoot up

Mumbai, Oct 14: Both the precious metals were on the upswing following global advice with silver up by Rs 285 per kg and gold by Rs 70 per ten gm during the week ended October 13 on the Bombay Bullion Exchange.

Silver .999 fineness grade opened downward on Monday last at Rs 17,995 per kg owing to sustain heavy selling pressure. The white metal recorded a high of Rs 18,340 on October 13 and low of Rs 17,855 on October 9 and closed at Rs 18,340 per kg with a massive gain of Rs 285 from its last weekend closed, traders said.

In the global market, silver also closed high at USD 13.83/13.86 per troy ounce during the week ended Oct 12 as compared to the previous weekend close of USD 13.25/13.30 per troy ounce.

Similarly, standard mint gold (99.5 fineness) also opened weak Monday last at Rs 9,480 per ten gm following by pure gold (99.9 fineness)) at Rs 9,530 per ten gm on poor demand from ornament makers.

The yellow metal registered a high of Rs 9,575 on Octber 13 and Rs 9,625 for pure gold on the same day. Standard mint gold recorded a low of Rs 9,345 on October 9. Likewise, pure gold also registered a low of Rs 9,395 per ten gm on the same day. Finally, standard gold and pure gold closed at Rs 9,575 and Rs 9,625 with a gain of Rs 70 each from their last week close.

Meanwhile, in London, gold was USD 745.50/747.00 per troy ounce during the week ended Oct 13 as compared to the previous week's close of USD 732.50/735.00, traders added.

UNI