Silver down, Gold ends firm: BBA

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Mumbai, May 15: A mixed trend was today witnessed in precious metals with Silver closing lower at Rs 23,470 per kg with a loss of Rs 85 and gold ended firm at Rs 11,915 per ten gm with gain of Rs 45 per ten gm, due to brisk marriage seasonal demand and bullish advice from global markets, traders at the Bombay Bullion Association said.

Silver .999 fineness variety was quoted below Rs 23,500 barrier and opened low at Rs 23,170 per kg on poor demand from Industrial users. Later, the white metal ended down at Rs 23,470 with a loss of Rs 85 from its previous close on sustained heavy offers by stockists, induced by weaker advice from global marekts. The white metal was quoted low at USD 16.60/16.63 per troy ounce at London compared to USD 16.65/16.70 on earlier day, which led to downward trend in domestic prices.

In the yellow metal segment, standard gold (99.5 purity) and pure gold (99.9 purity) opened downward at Rs 11,880 and Rs 11,940 per ten gm respectively due to fresh buying support by jewellery makers.

Later, both the prices ended firm at Rs 11,915 per ten gm for standard mint gold and for pure gold at Rs 11,970 per gm. Both the prices rose by Rs 45 for standard mint and for pure gold by Rs 40 per ten gm from their last finish.

In London, gold was quoted higher at USD 866.20/868.80 an ounce from its previous day, traders added.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 23,470 (23,555) Gold (per 10 gm): Standard mint 99.5 purity: Rs 11,915 (11,870) Pure gold 99.9 purity: Rs 11,970 (11,930)

UNI

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