Precious metals decline on thin buying support

Mumbai, Jan 30 (UNI) Both the precious metals declined today with Silver down by Rs 60 per kg and Gold by Rs 60 per ten gm on weak global advice and poor ornament makers demand, traders at the Bombay Bullion Association (BBA) said.

Standard gold (99.5 purity) and pure gold (99.9) opened low at Rs 11,770 and Rs 11,825 per ten gm respectively on lack of demand.

Later, the yellow metal improved and closed at Rs 11,785 and Rs 11,840, with a loss of Rs 60 for standard gold and Rs 55 for pure gold from their previous close.

In the overseas market, Gold fell at 921.00/922.00 per troy ounce against 923.00/924.00 per troy ounce, traders said.

Silver fineness (.999) purity opened downward at Rs 20,970 per kg on persistent offloading by stock holders. Later, it rose and closed at Rs 21,020 per kg with a loss of Rs 60 per kg as compared to its last close.

In the London market, Silver inched down at 16.61/16.65 per troy ounce, compared to its last close of 16.66/16.69 per troy ounce.

Following are spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 21,020 (21,080) Gold (per 10 gm) Standard mint 99.5 purity: Rs 11,785 (11,845) Pure gold 99.9 purity: Rs 11,840 (11,895.

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