Silver, Gold snap downward trend to post gains

Mumbai, Aug 11 (UNI) Both the precious metals snapped a week of decline today with Silver improving by Rs 130 per kg to close at Rs 22,440 even as Gold glittered again with a rise of Rs 70 per ten gm to finish at Rs 11,815, on good demand by industrial users, traders at the Bombay Bullion Association (BBA) said.

The white metal opened low at Rs 22,280 per kg on lower buying support, before surging during the end trade to finish at Rs 22,440 with a gain of Rs 130 per kg from its previous close on better buying support.

Standard gold opened steady while pure gold slightly falling by Rs 5 on sluggish demand in view of discouraging advice from local dealers.

Later, standard gold and pure gold ended at Rs 11,815 and Rs 11,880 respectively, increasing Rs 70 per ten gm each, from their previous close on brisk buying support from ornmant makers in view of strong global advice.

In London and Asian markets, gold was recorded at USD 862.00/862.25 per troy ounce against the previous day's 859.00/ 859.25, while the white metal was quoted at USD 15.40/15.41 per ounce from USD 15.25/15.26 per ounce from its last close, traders added. Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 22,440 (22,310) Gold (per 10 gm): Standard mint 99.5 purity: Rs 11,815 (11,745) Pure gold 99.9 purity: Rs 11,880 (11,810).

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