Silver, gold end firm on strong global advice

Mumbai, Sep 8 (UNI) Both the precious metals were on the upswing today with Silver rising by Rs 145 to close at 20,020 per kg and Gold moved up by Rs 45 to finish at Rs 11,745 per ten gm on bullish global advice and good festival demand by ornament makers, traders at the Bombay Bullion Association said.

Silver .999 finesses variety opened high at Rs 19,970 per kg on some scattered demand by local industrial users. Later, the white metal closed upward at Rs 20,020 with a big gain of Rs 145 from its previous day's close on lack of selling pressure by stock holders in view of encouraging advices on strong global cues.

Similarly, standard and pure gold opened higher at Rs 11,735 and Rs 11,800 per ten gm respectively on fresh demand by stock holders. Later, the prices rallied again by Rs 45 each for standard mint gold and pure gold from their previous levels.

Both the prices finally ended firm at Rs 11,745 per ten gm for standard mint and at Rs 11,810 per ten gm for pure gold, mainly on renewed speculative demand from ornament makers in view of forthcoming festival season, coupled with encouraging advices from global centres, dealers said.

In Asian and London markets yesterday, the yellow metal was quoted firm at USD 810.50/812.50 per troy ounce against USD 801.30 to 805.50 per troy ounce and white metal also was quoted high at USD 12.55/12.65 per troy ounce against USD 12.45 to 12.50 earlier.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 20,020 (19,875) Gold (per 10 gm): Standard mint 99.5 purity: Rs 11,745 (11,700) Pure gold 99.9 purity: Rs 11,810 (11,765) UNI AR OBB AG1833