Silver, Gold down on bearish global advice

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Mumbai, Dec 12: Both the precious metals registered a downward trend today with Silver moving down by Rs 35 per kg and Gold by Rs 10 per ten gm on poor demand from retailers, traders at the Bombay Bullion Association (BBA) said.

Silver (.999 fineness) opened lower at Rs 19,190 on sluggish demand from industrial users.

Later, the white metal closed at Rs 19,200 with a loss of Rs 35 per kg from its last close.

In New York, London and other markets, the white metal was quoted downward at USD 14.54/14.56 per troy ounce against USD 14.73/14.75 per troy ounce the previous day, traders added.

Similarly, price of standard mint Gold (99.5 purity) and pure Gold (99.9 purity) resumed lower at Rs 10,275 per ten gm and Rs 10,325 per ten gm respectively on heavy selling pressure from local dealers.

Later, standard Gold and pure Gold closed at Rs 10,285 and Rs 10,335 per ten gm with a loss of Rs 10 and Rs 5 respectively.

In London and New York, the yellow metal was quoted lower at USD 803.25/805.50 per troy ounce compared to USD 805.25/807.50 the previous day, traders added.

Following are the spot Silver and Gold closing prices: Silver (per kg) .999 grade Rs 19,200 (19,235) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,285 (10,295) Pure gold 99.9 purity: Rs 10,335 (10,340) UNI

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