Silver, Gold down on bearish advice from Int mkts

Mumbai, Nov 15 (UNI) Both the precious metals today closed softer, with Silver declining by Rs 100 per kg and Gold by a modest Rs 35 per ten gm, on sustained selling pressure by stock-holders along with bearish advice from global markets, traders at the Bombay Bullion Association said.

Silver (.999 fineness) variety resumed higher at Rs 19,815 per kg on small buying support from local industrial users.

Later, the white metal, however, drifted lower towards the end of the session and closed negative at Rs 19,650 per kg with a major loss of Rs 100 per kg from its previous close.

Traders said sellers were eargerly to sell their stocks in view of bearish advice from global markets. Local demand was moderate from local industrial users.

In New York, London and other markets, the white metal was quoted lower at USD 14.70/14.85 per troy ounce against USD 14.85/14.95 per troy ounce the previous day, traders added.

Prices of standard mint gold (99.5 purity) and pure gold (99.9 purity) resumed higher at Rs 10,350 and Rs 10,400 per ten gms respectively on moderate buying support from stockists.

Later, the prices, however, drifted as Standard mint gold closed lower at Rs 10,280 per ten gm and pure gold at Rs 10,330.

Both the prices eased modestly by Rs 35 per ten gm each from their last close.

In London, New York and Asian markets, gold today was quoted low at USD 804.50/805.00 per troy ounce as compared to USD 806.50/807.00 per troy ounce the previous day, which affected to downward trend in the domestic prices, traders said.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade Rs 19,650 (19,750) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,280 (10,315) Pure gold 99.9 purity: Rs 10,330 (10,365) UNI AR OBB VKG1827