Precious metals shoot up on advice

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Mumbai, Nov 25: Precious metals were on the upswing following global advice with Silver up by Rs 325 per kg and Gold by Rs 500 per ten gm during the week ended November 24 on the Bombay Bullion Exchange (BBA).

Silver .999 fineness grade opened high on Monday last at Rs 19,315 per kg owing to better buying support from domestic industrial users. The white metal recorded a high of Rs 19,625 on November 24 and a low of Rs 19,155 per kg on Novermber 20 and closed at Rs 19,625 with a huge gain of Rs 325 from its last weekend close, traders said.

In the global market, silver closed at USD 14.52/14.58 per troy ounce during the week ended November 23 as compared to the previous weekend close of USD 14.25/14.30 per troy ounce.

Standard mint gold (99.5 fineness) opened slightly up on Monday last at Rs 10,060 per ten gm followed by pure gold (99.9 fineness) at Rs 10,110 per ten gm as sellers were hoarding their stocks.

The yellow metal registered a high of Rs 10,550 on November 24 for standard gold and Rs 10,600 for pure gold on the same day.

Standard gold recorded a low of Rs 10,060 on November 20.

Likewise, pure gold also registered a low of Rs 10,105 per ten gm on the same day.

Finally, standard gold and pure gold closed at Rs 10,550 and Rs 10,600 respectively, with a massive gain of Rs 500 each from their last week close.

Meanwhile, in London, gold was USD 806.50/809.00 per troy ounce during the week ended Novermber 23 as compared to the previous week's close of USD 792.50/794.00, traders added.


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