Silver also firmed up on fresh demand from industrial users.

Standard gold of 99.5 per cent purity moved up by Rs 40 to finish at Rs 26,470 per 10 gm from Thursday’s closing level of Rs 26,430.
 

Pure gold of 99.9 per cent purity also rose by Rs 55 to end at Rs 26,625 per 10 gm from Rs 26,570.

Gold, silver prices recover on fresh demand at close:

Silver ready (.999 fineness) climbed by Rs 175 to close at Rs 44,585 per kg as compared to Rs 44,410 yesterday.

In the New York, gold futures ended sharply higher yesterday, with the metal drawing support from a steep decline in the dollar.

Gold for June delivery jumped USD 24.40 to settle at USD 1,391.80 an ounce on the Comex division of the NYMEX late yesterday, while silver July contract gained at USD 22.51 an ounce.
 

Article source: http://english.samaylive.com/business-news/676530348/gold-silver-mumbai-new-delhi-business-news.html

NOW WITH 12 years’ experience in precious metals and mining, Maria Smirnova joined Sprott Asset Management as a research associate in May 2005, and was appointed associate portfolio manager in February 2010.

Co-managing the Sprott Silver Equities Class today with Eric Sprott and Charles Oliver, Maria Smirnova is also responsible for supporting the portfolio management team in the precious metals and mining space. Here she speaks to The Gold Report about silver investing, and the silver miner stocks.

The Gold Report: Maria, in April Eric Sprott sold more than $45 million worth of units in the Sprott Silver Physical Trust. A spokesperson told Canada’s Globe and Mail that the sale was needed to cover charitable obligations and to buy shares in silver mining companies because Mr. Sprott believes silver equities will outperform the metal in the next rally. Can you fill in the details on that thesis?

Maria Smirnova: We believe in the equities – for any commodity – for several reasons. Equities represent a leverage play on the underlying commodity. To use a simple example: Assume Company X can earn $5 when the silver price is $25 per ounce. If the silver price increases 20% to $30, that extra $5 goes directly to the bottom line. This doubles the company’s profits from $5 to $10. The silver price increases 20%; the profits rise nearly 100% – that is what I call leverage.

In addition, mining companies benefit from production growth

Article source: http://goldnews.bullionvault.com/silver-bullsh-052420133