Precious metals advance

Mumbai, Jun 27 (UNI) The precious metals today zoomed up by whopping margins with Silver advancing by Rs 515 per kg and standard Gold by Rs 410 per ten gm on encouraging advice from global markets, traders at the Bombay Bullion Association (BBA) said.

The white metal opened higher at Rs 24,440 per kg on better buying support from industrial users. Later, it moved up further and closed at Rs 24,605, with a huge gain of Rs 515 from its last close.

The yellow metal glittered because of rise in price of oil and the weakening of US dollar against other currencies, dealers informed.

Standard mint and pure gold also opened high at Rs 12,635 per ten gm and Rs 12,695 per ten gm respectively on fresh demand from jewellery makers.

Later, standard mint gold and pure gold rose to Rs 12,750 and Rs 12,815 per ten gm respectively. Both their prices increased by Rs 410 and Rs 415 per ten gm respectively from their previous finish.

Silver and Gold today surged on hectic buying by stockists triggered by rising trend in the international market, traders said.

In London and Asian markets, gold was higher at USD 920.00/921.90 per troy ounce, against 896.50/897.20, the previous day, while the white metal was also quoted higher at USD 17.40/17.41 per troy ounce, compared to 16.92/16.94 per troy ounce from its last finish, which led to upward trend in the domestic prices, traders pointed out.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 24,605 (24,090) Gold (per 10 gm): Standard mint 99.5 purity: Rs 12,750 (12,340) Pure gold 99.9 purity: Rs 12,815 (12,400) UNI NV OBB VKG1840