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Silver, Gold soar

Posted on Nov 06, 07:42PM | UNI

The precious metals gained for the second session today at the domestic bullion market, as Silver rallied by Rs 525 to Rs 59,725 per kg and Gold increased by Rs 140 to Rs 30,775 per ten gm on sustained demand from stockists, traders at the Bombay Bullion Assocation (BBA) said.

Silver, which had gained by Rs 420 yesterday, rose by Rs 525 to Rs 59,725 per kg in the early trade. Later, it ended at the same level.

Similarly, Gold, which had rallied by Rs 255 per ten gm yesterday, increased by Rs 140 to Rs 30,775 per ten gm in the opening trade.

Finally, it ended at the same level. Pure variety also edged up by Rs 140 to Rs 30,910 per ten gm.

The precious metals also rose in Asian Market, where Silver was quoted at USD 31.17 per ounce and Gold at USD 16.87 per ounce.

Following were the closing rates of spot silver and gold: Silver per kg Rs 59,725 (Rs 59,200) Gold 99.5 (standard mint) Rs 30,775 (Rs 30,635) Gold 00.8 (pure) Rs 30,910 (Rs 30,775)