Precious metals continue to decline

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Mumbai, Mar 29: Both the precious metals eased further for the second consecutive day today with Silver nosediving by Rs 405 per kg and Gold by Rs 185 per ten gm on heavy selling pressure, traders at the Bombay Bullion Association said.

In the last two days, Silver has slipped by Rs 460 and Gold by Rs 290. Standard gold (99.5 purity) resumed downward at Rs 12,035 per ten gm and pure gold (99.9 variety) at Rs 12,095 per ten gm, on sluggish demand by consumers. Later, standard gold and pure gold slightly improved and closed at Rs 12,040 and Rs 12,105, down by Rs 185 for standard gold and Rs 175 for pure gold, from their previous close.

Silver (.999 fineness) variety resumed low at Rs 23,370 per kg on lack of demand. Later, it rose and closed at Rs 23,415 to come down by a whopping Rs 405 per kg, from its last close.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 23,415 (23,820) Gold (per 10 gm): Standard mint 99.5 purity: Rs 12,040 (12,225) Pure gold 99.9 purity: Rs 12,105 (12,280)


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