Silver. Gold close higher on bullish global advice

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Mumbai, Oct 23 (UNI) Both the precious metals today closed higher with Silver jumping up by Rs 110 per kg and Gold by Rs 10 per ten gm on lack of offers by stockists in view of encouraging advice from global and upcountry markets, traders at the Bombay Bullion Associaton (BBA) said.

Silver (.999 fineness) variety opened higher by Rs 50 at Rs 18,270 per kg from its last close on increased industrial users demand.

Later, the white metal rallied further and closed higher at Rs 18,330 with a major gain of Rs 110 per kg from its previous close.

Traders said there was lack of offers by stockists in view of bullish advice from global markets and lesser arrival of stocks at the domestic centres.

In New York, London and other markets, the white metal was quoted at a high at USD 13.62/13.65 per troy ounce against USD 13.45/13.55 per troy ounce the previous day.

Prices of Standard gold (99.5 purity) and pure gold ( 99.9 purity) grades resumed higher at 9,750 and Rs 9,795 per ten gm.


Later, both the prices surged again and closed at Rs 9,755 per ten gm for standard mint gold and for pure gold at 9,800 per ten gm.

Both the prices rose by Rs ten each from their last close.

There was brisk buying support from ornament makers. Sellers were holding their stocks in view of bullish advice from global markets.

In London, New York and Asian markets, gold firmed up at USD 755.00/760.00 per troy ounce compared to USD 742.25/748.00 on the previous day, traders said.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 18,330 (18,220) Gold (per 10 gm): Standard mint 99.5 purity: Rs 9,755 (9,745) Pure gold 99.9 purity: Rs 9,800 (9,790) UNI

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