Both precious metals fall in closing session

Mumbai, May 10: Both precious metals today fell on lack of of local industrial demand and silver eased by Rs 90 per kg and gold by Rs 20 per ten gm in the closing session, traders at the Bombay Bullion Association said. Halting the six-day upward trend, the precious metals fell today on lack of industrial buying interest. Silver .999 fineness variety opened low at Rs 23,380 per kg and, later, closed at Rs 23,385 with a loss of Rs 90 from its previous close amid sustained heavy selling pressure by stockists.

In the yellow metal segment, standard gold (99.5 purity) and pure gold (99.9 purity) opened downward at Rs 11,925 and Rs 11,980 per ten gm respectively due to sluggish demand from industrial users. Later, both the prices declined and closed lower at Rs 11,920 per ten gm for standard gold and Rs 11,980 per ten gm for pure gold due to low buying support.

Both, standard and pure gold, were down by Rs 20 per ten gm each from their previous close due to persistent offerings from stockists. Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 23,385 (23,475) Gold (per 10 gm): Standard mint 99.5 purity: Rs 11,920 (11,940) Pure gold 99.9 purity: Rs 11,980 (12,000)

UNI