Silver, Gold further ease on bearish global advice

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Mumbai, Feb 5 (UNI) Both the precious metals today dropped further on mild offers and weak global advices from overseas markets, with Silver falling by Rs 15 per kg and Gold by Rs 110 per ten gm from their previous close, traders at the Bombay Bullion Association (BBA) said.

On January 24, gold had zoomed to Rs 11,425 and since then its upward trend started and on February 1 it registered an all time high of Rs 11,890. But from the next day, its downward trend started and in last three days, Gold crashed by Rs 485 per ten gm.

Silver fineness (.999) purity opened high at Rs 21,050 per kg on good demand. Later, it fell and closed at Rs 21,015 per kg with a slight loss of Rs 15 per kg as compared to its previous close.

In the last three days, Silver has tumbled by Rs 285.

In the London market, Silver was quoted at 16.70/16.72 per troy ounce compared to its last close of 16.81/16.82 per troy ounce.

Standard Gold (99.5 purity) and pure Gold (99.9) opened upward at Rs 11,535 and Rs 11,590 per ten gm respectively.

Later, standard gold and pure gold slid and closed at Rs 11,405 and Rs 11,455, with a loss of Rs 110 for standard gold and Rs 115 for pure gold from their previous close.

In the overseas market, gold inched down 902.00/904.25 per troy ounce against 910.00/911.25 per troy ounce.

Following are spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 21,015 (21,030) Gold (per 10 gm) Standard mint 99.5 purity: Rs 11,405 (11,515) Pure gold 99.9 purity: Rs 11,455 (11,570.


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