Gold rises, silver falls during the week

Mumbai, Nov 15 (UNI) A mixed trend was seen in the precious metals as gold surged by Rs 235 per ten gm, while silver plummeted by Rs 625 per kg on the bullion market during the week.

Gold rallied on Monday, Wednesday, Friday and Saturday.

On Monday, it spurted by Rs 70 to end at Rs 11,785. Next day, it fell slightly by Rs 35 on sluggish demand from local dealers. Again on Wednesday, the yellow metal recovered by Rs 65 on improved demand.

On Thursday, it paled by Rs 90 to finish at Rs 11,725.

On Friday, it inched up by Rs 70 and today, it strengthened by Rs 155.

Today, standard and pure gold closed at Rs 11,950 and Rs 12,010 with a huge gain of Rs 235 and Rs 240 per ten gm, respectively, than their last week's close.

The yellow metal recorded the highest of Rs 11,950 on November 15, while its lowest was Rs 11,750 on Novermber 11, during the week.

In London, gold was recorded at USD 736.00/737.50 per troy ounce during the week ended November 14, as compared to the previous week's close of USD 740.00/741.50.

On the contrary, the white metal, barring Monday and Saturday, registered a downwrd trend.

On Monday, it rose by Rs 105 per kg to end at Rs 17,565. However, from Tuesday to Friday, it could not recover. During the four days, the white metal tumbled by Rs 865. Yesterday, silver finished at Rs 16,700.

Today, it settled at Rs 16,835 with a massive loss of Rs 625 from its its last week's close.

Silver recorded the highest of Rs 17,565 on November 10, while the lowest was Rs 16,700 on November 14, during the week.

In London, silver was recorded at USD 09.40/09.41 per troy ounce during the week ended November 14, as compared to the previous weekend's close of USD 10.19/10.20 per troy ounce.

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