Silver, Gold up on bullish advice from global markets

Mumbai, Nov 22 (UNI) The precious metals were again on the upswing with Silver gaining by Rs 15 per ten kg and Gold by Rs 85 per ten gm on brisk ornament makers demand along with bullish advice from London and Asian markets, traders at the Bombay Bullion Association said.

Silver (.999 fineness) opened higher at Rs 19,385 on lack of offers from stockists and lesser ready stocks.

Later, the white metal again rallied and closed positive at Rs 19,365 per kg with a modest gain of Rs 15 from its previous close.

There was scattered demand from industrial users in view of encouraging advice from global markets.

In New York, London and other markets, the white metal was quoted higher at USD 14.55/14.65 per troy ounce against USD 14.45/14.52 per troy ounce the previous day, traders added.

Similarly, price of standard mint gold (99.5 purity) and pure gold (99.9 purity) opened higher at Rs 10,275 per ten gm and Rs 10,325 per ten gm respectively on reduced selling pressure by stockists.

Later, both the prices closed firm at Rs 10,265 per ten gm for standard mint gold and for pure gold at Rs 10,315 per ten gm.

Both the prices rose smartly by Rs 85 for standard mint and for pure gold by Rs 80 from their last close.

In London, New York and Asian markets, gold today was quoted higher at USD 801.50/804.00 per troy ounce as compared to USD 789.50/798.00 per troy ounce the previous day, which helped the upward trend in the domestic prices, traders said.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade Rs 19,365 (19,350) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,265 (10,180) Pure gold 99.9 purity: Rs 10,315 (10,235) UNI AR OBB SM1821