Silver up sharply on local demand

MUMBAI, February 27: Silver prices displayed handsome gains of Rs 190 to close at Rs 8690 per kilo on the bullion market here Friday in the ...

MUMBAI, February 27: Silver prices displayed handsome gains of Rs 190 to close at Rs 8690 per kilo on the bullion market here Friday in the absence of fresh arrivals coupled with local demand.

Gold prices also rose due to higher overseas advices.

In London, gold prices were fixed higher by $ 3.55 at $ 296.55 per troy ounce. Prices of ready silver of .999 fineness zoomed up by Rs 190 to close at Rs 8690 from Rs 8500.

Raw silver of .916 fineness and tenderable silver also rallied to end at Rs 8570 and Rs 8695 respectively from the previous close of Rs 8385 and Rs 8505. Standard gold prices rose smartly by Rs 40 to finish at Rs 3990.

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