BOMBAY(PTI): Both the precious metals rose sharply on the local bullion market here on July 2.
The sharp spurt in silver was mainly accounted to heavy buying interest from industrial users as against poor supplies. The dry spell in the state raised possibility of damage to the sown crops and helped the bullish trend.
The yellow metal spurted up due 10 fresh local demand induced by bullish overseas advices.
In the overseas market, London, gold was fixed at 390 dlrs per troy ounce, a jump of 10 dlrs over the previous day’s closing. London silver was fixed higher by 28.75 cents at 483.50 cents per troy ounce.
Silver 999 fineness shot up by Rs 113.00 to Rs 6121. raw silver 916 fineness by Rs 108.00 to Rs 6054 and silver tenderable by Rs 113.00 at Rs 6126.
Standard gold rose to Rs 4462 from Rs 4406 and 22carat gold Was nominally quoted higher at Rs 4090 from RS 4039 previously.
Article extracted from this publication >> July 9, 1993
