Precious metals end higher

Mumbai, Oct 7 (UNI) Both the precious metals shot up today with Gold ending at a two and half month high, up by Rs 340 per ten gm to finish at Rs 13,470, while silver increased by Rs 150 per kg to Rs 19,685 on sustained demand in view of encouraging global advice, traders at the Bombay Bullion Association said.

Because of a weak stock market, the investors shifted their funds in the precious metals, dealers informed.

Gold has soared by Rs 640 in the last two days.

Standard and pure gold opened high at Rs 13,330 and Rs 13,385 per ten gm respectively, on brisk buying support from stockists.

Later, standard and pure gold rallied by Rs 340 and Rs 345 per ten gm respectively from its last close, on fresh demand amid bullish trend.

Standard mint and pure gold closed at Rs 13,470 and Rs 13,535 per ten gm.

Silver .999 variety opened high at Rs 19,560, on good demand from local dealers.

Later, it edged up by Rs 150 and finished at Rs 19,685 per kg from its last close, amid better buying support from industrial users.

In Asian and London markets, gold advanced to USD 882.00/882.50 per troy ounce from USD 863.00/863.25 per troy ounce from its last close and silver was recorded at USD 11.57/11.58 per troy ounce against USD 11.33/11.34 per troy ounce from its previous close, dealers said.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 19,685 (19,535) Gold (per 10 gm): Standard mint 99.5 purity: Rs 13,470 (13,130) Pure gold 99.9 purity: Rs 13,535 (13,190) UNI NV OBB VKG1849