Silver ends up, Gold lower: Bombay Bullion Assn

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Mumbai, June 5: The precious metals showed a mixed trend today with Silver up by Rs 65 to close at 23,800 per kg owing to strong advice from global markets and Gold declined by Rs 55 to end at Rs 12,100 per ten gm from their last close on sluggish demand by jewellers, traders at the Bombay Bullion Association said.

Silver .999 fineness variety resumed high at Rs 23,790 per kg on fresh buying support mainly from industrial users. Later, it rallied again and ended positive at Rs 23,800 per kg, with a gain of Rs 65 from its last close.There was good buying support from industrial users. Sellers were keen to hoading their stocks in view of firm advice from global markets. At London, Asian and other markets, the white metal was quoted high at USD 16.54/16.78 per troy ounce compared to 16.66/16.72 the previous day which helped to boost domestic price.

Standard mint and pure gold also opened firm at Rs 12,165 per ten gm and Rs 12,210 per ten gm respectively.

Later, standard mint gold and pure gold ended downward at Rs 12,100 and Rs 12,160 per ten gm respectively. Both the prices eased by Rs 55 from their last finish.

Traders said there was there lack of fresh industrial users demand at yesterday's higher level on bearish advice from London and Asian markets.

In London and Asian markets, gold was quoted lower in a range of USD 866.40/878.40 per troy ounce, against 879.20/887.40, the previous day, traders added.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 23,800 (23,735) Gold (per 10 gm): Standard mint 99.5 purity: Rs 12,100 (12,155) Pure gold 99.9 purity: Rs 12,160 (12,215)


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