Silver, gold end higher on strong global advice

Mumbai, Oct 20 (UNI) The precious metals made a good recovery with Gold firming up by Rs 150 per ten gm and Silver gaining by Rs 90 per kg on strong global cues, traders at the Bombay Bullion Association (BBA) said.

The white metal today crossed the Rs 18,000 mark at the opening session and was quoted at Rs 18,160 per kg on fresh buying support from local dealers. Finally, it ended high at Rs 18,065 with a gain of Rs 90 from its last close of 17,975 per kg on renewed demand from industrial users in view of forthcoming Diwali festival.

Similarly, standard and pure gold opened high at Rs 12,770 and Rs 12,830 per ten gm respectively, on lack of selling pressure by stock holders. Both the prices of standard and pure gold gained by Rs 150 and Rs 160 per ten gm respectively from their last close on fresh buying support from ornament makers, induced by bullish advice from global markets.

Gold and Silver prices were quoted firm at USD 796.25 to 798.70 per troy ounce and USD 9.65 to 9.85 per troy ounce respectively from their previous levels in global markets, which helped to boost the domestic prices.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 18,065 (17,975) Gold (per 10 gm): Standard mint 99.5 purity: Rs 12,735 (12,585) Pure gold 99.9 purity: Rs 12,800 (12,640) UNI AR OBB VKG1850