Silver, gold extend gains on heavy buying

Precious metals, silver and gold extended its gains at the domestic bullion market in Mumbai on Thursday following heavy stockists and investors demand amidst higher New York market.

Silver ready (.999 fineness) rose by Rs 300 per kg to close at Rs 53,890 as against Wednesday's closing of Rs 53,590.

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Standard gold (99.5 purity) strengthened by Rs 150 per 10 grams to end at Rs 22,285 from Rs 22,135 on Wednesday.

Pure gold (99.9 purity) also hardened by a similar margin of Rs 150 per 10 grams to finish at Rs 22,390 as compared to Rs 22,240 previously.

In New York trade, the precious metals moved up on concerns over Greece debt crises though strong dollar kept the metals in range.