Precious metals close rise on firm global advice

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Mumbai, Dec 10 (UNI) Both the precious metals today closed higher on fresh demand with Silver improving slightly by Rs 10 per kg and Gold by Rs 45 per ten gm, traders at the Bombay Bullion Association (BBA) said.

Silver (.999 fineness) opened at Rs 19,075 per kg on better buying support from industrial users.

Later, the white metal rallied again and closed positive at Rs 19,050 with a slight gain of Rs 10 per kg from its last close.

In New York, London and other markets, the white metal was quoted higher at USD 14.38/14.40 per troy ounce against USD 13.33/13.35 per troy ounce the previous day, traders added.

Similarly, price of standard mint gold (99.5 purity) and pure gold (99.9 purity) opened upward at Rs 10,200 per ten gm and Rs 10,250 per ten gm respectively, on lesser stock supply.

Standard gold and pure gold closed higher at Rs 10,215 and Rs 10,265 per ten gm respectively from their last close.

Both the prices rose by Rs 45 per ten gm from their end of the previous day.

Traders said there was some good marriage demand from ornament makers. Sellers reserved their stocks in view of bullish advice from International markets.

In London and New York, the yellow metal was quoted high at USD 797.25/798.25 per troy ounce compared to USD 793.25/794.25 the previous day, traders added.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade Rs 19,050 (19,040) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,215 (10,170) Pure gold 99.9 purity: Rs 10,265 (10,220).


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