Gold declines, Silver rises further

Mumbai, Feb 12: A mixed trend was witnessed in the Bullion market today with Silver rising by Rs 95 per kg on brisk buying support even as Gold lost its shine by Rs 60 per ten gm on weak advice from global markets, traders at the Bombay Bullion Association (BBA) said.

Silver .999 fineness resumed higher at Rs 21,725 per kg on good industrial demand from local dealers. Later, it firmed by Rs 95 and ended at Rs 21,770 per kg from its last close. Traders said there was sustained heavy off-loading by stockists, induced by weak advice from global markets. In the London and Asian markets, Silver was quoted at 17.48/17.50 per troy ounce compared to the last close of 17.34/17.38 per troy ounce.

After yesterday's all time high, Gold today fell by Rs 60.

However, standard gold (99.5 purity) opened downward at Rs 11,840 per ten gm and pure gold 99.9 variety opend at Rs 11,895 per ten gm.

Later, standard gold and pure gold closed down at Rs 11,835 and Rs 11,890 per ten gm respectively.

In the overseas market, gold inched down to 922.00/923.25 per troy ounce against 923.00/924.25 per troy ounce.

Following are spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 21,770 (21,675) Gold (per 10 gm) Standard mint 99.5 purity: Rs 11,835 (11,895) Pure gold 99.9 purity: Rs 11,890 (11,950).

UNI