Silver, Gold up on strong global advice

Mumbai, Nov 26 (UNI) The Precious metals continued to rise with Silver gaining Rs 140 per kg and Gold Rs 145 per ten gm today on encouraging advice from global markets, traders at the Bombay Bullion Association said.

Silver (.999 fineness) opened higher at Rs 19,645 on fresh buying support from industrial users.

Later, the white metal rallied again to close firm at Rs 19,765 with a big gain of Rs 140 from its last close.

There was sustained 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 14.84/14.95 per troy ounce against USD 14.75/14.80 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 10,590 per ten gm and Rs 10,640 per ten gm respectively on reduced selling pressure by stockists.

Later, both the prices closed firm at Rs 10,695 per ten gm for standard mint gold and for pure gold at Rs 10,745 per ten gm.

Both the prices rose smartly by Rs 145 each from their last close. There was good ornament makers demand in view of bullish advice from global markets.

At London and New York, Yellow metal was quoted higher at USD 830/835 per troy ounce compared to USD 820/825 the previous day, traders added.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade Rs 19,765 (19,625) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,695 (10,550) Pure gold 99.9 purity: Rs 10,745 (10,600) UNI AR OBB SKB1819