Precious metals on the upswing

Mumbai, Oct 6 (UNI) Both the precious metals were on the upswing today with Silver rising by Rs 50 per kg to end at Rs 19,535 and Gold surged by Rs 300 per ten gm to finish at Rs 13,130 amid brisk buying support from industrial users and encouraging global advice, traders at the Bombay Bullion Association said.

Silver .999 variety resumed low at Rs 19,325, on lack of fresh demand from domestic dealers.

Later, it rallied by Rs 50 and finished at Rs 19,535 per kg from its last close, amid good demand from stockists.

Similary, standard and pure gold opened low at Rs 12,800 and Rs 12,855 per ten gm respectively, on sluggish demand from stockists.

Later, standard and pure gold soared by Rs 300 per ten gm each from its last finish, on better buying support from local dealers.

Finally, standard mint and pure gold closed at Rs 13,130 and Rs 13,190 per ten gm.

In Asian and London markets, an upward march was obseved as gold edged up to USD 863.00/863.50 per troy ounce from USD 858.00/858.25 per troy ounce from its last close and silver was recorded at USD 11.33/11.34 per troy ounce against USD 11.10/11.21 per troy ounce from its previous close, dealers said.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 19,535 (19,485) Gold (per 10 gm): Standard mint 99.5 purity: Rs 13,130 (12,830) Pure gold 99.9 purity: Rs 13,190 (12,890) UNI NV OBB NP1909