Silver, Gold upswing on bullish advice

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Mumbai, Jul 1: Both the precious metals rose further today with Silver increasing marginally by Rs 15 per kg and Gold by Rs 20 per ten gm on fresh stockists demand and firm global cues, traders at the Bombay Bullion Association (BBA) said.

The white metal resumed lower at Rs 24,710 per kg on sustained heavy selling pressure from industrial users. Later, it slightly recovered and closed at Rs 24,750 from its previous close, on speculative demand by industrial users.

Standard mint and pure gold opened lower at Rs 12,920 per ten gm and Rs 12,980 per ten gm respectively, on thin buying support from jewellery makers. Later, standard mint gold and pure gold inched up to Rs 12,965 and Rs 13,025 per ten gm respectively, on high overseas advice, traders said.

Standard gold and pure gold registered a gain of Rs 20 and Rs 15 per ten gm respectively, from their previous finish.

In London and Asian markets also, gold was slightly higher at USD 931.00/931.50 per troy ounce, against 929.50/930.20, the previous day, while the white metal was also quoted at USD 17.68/17.69 per troy ounce, compared to 17.66/17.69 per troy ounce from its last finish, traders pointed out.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 24,750 (24,735) Gold (per 10 gm): Standard mint 99.5 purity: Rs 12,965 (12,945) Pure gold 99.9 purity: Rs 13,025 (13,010).


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