Silver, Gold end lower on weak global advice.

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Mumbai, Jan 7 (UNI) Both the precious metals declined today with Silver down by Rs 65 per kg and Gold by Rs 20 per ten gm on bearish advice from global markets along with sluggish demand by local dealers, traders at the Bombay Bullion Association (BBA) said.

Silver fineness (.999) variety resumed downward at Rs 19,845 per kg on absence of fresh demand by industrial users. Later, it closed at the same level of opening rate. Finally, the white metal declined by Rs 65 from it last close.

In London, Silver edged down at 15.18/15.20 per troy ounce, compared to its last close of 15.30/15.35 per troy ounce.

Standard gold (99.5) and pure gold (99.9) opened donward at Rs 10,895 and Rs 10,945 per ten gm respectively on poor demand from local ornament makers.

Later, the yellow metal went down and closed at Rs 10,930 and Rs 10,980, losing by Rs 20 per ten gm each from their last close.

In the overseas market, Gold slumped at 860.00/862 per troy ounce against 864.25/866.00 per troy ounce, which affected the downward trend in both the precious metal prices, traders pointed out.

Following are spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 19,845 (19,910) Gold (per 10 gm) Standard mint 99.5 purity: Rs 10,930 (10,950) Pure gold 99.9 purity: Rs 10,980 (11,000).


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