Mixed trend witnessed in precious metal

Published: Sunday, November 12, 2006, 20:37 [IST]
 

Mumbai, Nov 12 (UNI) Mixed trend was witnessed in the precious metal as Silver shot up by Rs 317 per kg and Gold declined by Rs 16 per ten gm during the week ended November 11 at the Bullion Market.

Silver .999 fineness grade opened high on Monday at Rs 19,094 per kg on good demand from domestic industrial users.

The white metal recorded a high of Rs 19,406 on November ten and a low of Rs 18,900 per kg on November nine, before finally closing at Rs 19,355 per kg during the week-end with a massive gain of Rs 317 from its previous week-end close following increase of fresh demand from industrial users and ornament makers, traders said.

In global markets, Silver also went up to USD 13.00/13.05 per troy ounce on week ended on Friday compared to the previous week-end close of USD 12.58/12.62 per troy ounce.

However, standard mint gold (99.5) opened high on Monday at Rs 9,159 per ten gm on better buying support. While pure gold (99.9) also opened upwards at Rs 9,212 per ten gm on good demand from ornament makers.

Both the yellow metal declined and closed weak at Rs 9,140 for standard mint and Rs 9,190 for pure gold on November 11 with a loss of Rs 13 for standard gold and Rs 16 for pure gold from its previous week's close.

Standard mint gold recorded a high of Rs 9,191 on November ten and a low of Rs 8,964 on November nine. Likewise, pure gold registered a high of Rs 9,242 on November ten and a low of Rs 9,012 on November nine per 10 gms.

Meanwhile, in London, gold remained steady at USD 620/628.00 per troy ounce during the week ended November ten against the previous week's close of USD 620.50/628.00, traders added.

UNI VD KU AW1010


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