Pure Gold closes at Rs 12,000 per ten gm

Mumbai, May 9 (UNI) Pure gold closed at a three week's high today at Rs 12,000 per ten gm, moving up by Rs 195, on renewed industrial demand even as Silver advanced by a whopping Rs 355 and finished at Rs 23,475 per kg on strong global cues, traders at the Bombay Bullion Association said.

In the yellow metal segment, standard gold (99.5 purity) and pure gold (99.9 purity) opened upward at Rs 11,850 and Rs 11,905 per ten gm respectively due to fresh buying support by stockists.

Later, both the prices rallied and closed higher at Rs 11,940 per ten gm for standard gold and for pure gold at Rs 12,000 per ten gm due to stockists demand.

Both, standard and pure gold inched up by Rs 190 and Rs 195 per ten gm repectively from their previous close.

Silver .999 fineness variety opened high at Rs 23,365 per kg from its previous level. Later, it closed at Rs 23,475, with a massive gain of Rs 355 from its previous close.

For the sixth consecutive day today, an upward trend was observed in the precious metals. Silver has increased by Rs 1,145 per kg and gold by Rs 685 per ten gm.

In the international market, the value of Silver and Gold moved up today following firm Euro and a new record high oil price above USD 125 a barrel, traders informed.

In London, Gold recorded USD 883.00/884.60 an ounce while silver recorded USD 16.93/16.94 an ounce, traders added.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 23,475 (23,120) Gold (per 10 gm): Standard mint 99.5 purity: Rs 11,940 (11,750) Pure gold 99.9 purity: Rs 12,000 (11,805) UNI NV OBB VKG1845