Silver, gold head north on bullish global advice

Mumbai, Dec 13 (UNI) After yesterday's bearish phase, silver and gold today recovered by Rs 60 per kg and Rs 50 per ten gm respectively on fresh buying support from ornament makers and encouraging advice from international markets, traders at the Bombay Bullion Association (BBA) said.

Silver (.999 fineness) opened higher at Rs 19,255 per kg from its last close on lack of offers from stock-holders.

Later, the white metal rallied again and closed positive at Rs 19,260 with a small gain of Rs 60 per kg from its previous close.

In New York, London and other markets, the white metal was quoted upward at USD 14.60/14.62 per troy ounce against USD 14.55/14.57 per troy ounce on the previous day, traders added.

Similarly, price of standard mint gold (99.5 purity) and pure gold (99.9 purity) resumed higher at Rs 10,345 per ten gm and Rs 10,395 per ten gm respectively on lack of selling pressure from local dealers.

Later, standard gold and pure gold closed firm at Rs 10,335 and Rs 10,385 per ten gm respectively. Both the prices rose by Rs 50 each from their last close.

In London and New York, the yellow metal was quoted higher at USD 809.25/811.50 per troy ounce compared to USD 803.25/805.50 on the previous day, traders added.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade Rs 19,260 (19,200) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,335 (10,285) Pure gold 99.9 purity: Rs 10,385 (10,335).

UNI