Mumbai, Jun 24 (UNI) The precious metals lost their glitter today with Silver down by a whopping Rs 320 per kg and Gold by Rs 190 on sluggish demand by ornament makers in view of discouraging advice from global markets, traders at the Bombay Bullion Association (BBA) said.
The white metal opened below Rs 24,400 and touched a low at Rs 24,105 per kg, on thin buying support by industrial users.
Later, it drifted further lower and finished negative at Rs 24,165, down steeply by Rs 320 per kg from its last close.
Standard mint and pure gold opened low at Rs 12,310 per ten gm and Rs 12,370 per ten gm respectively, on poor buying support from jewellery makers.
Later, standard mint gold and pure gold ended again low at Rs 12,360 and Rs 12,421 per ten gm respectively. Both the prices plunged by Rs 190 for standard mint and pure gold by Rs 189 from their last finish.
Traders said there was sluggish demand from jewellery makers and industrial users. Sellers were keen to offer their stocks in view of bearish advice from global markets and sufficient stocks at the domestic markets.
In London and Asian markets also, a weak trend was seen as gold was quoted below USD 900 barrier and moved in a range of USD 885.30/889.90 per troy ounce, against 903.00/904.50, the previous day, while the white metal was also quoted below USD 17 level and touched low at USD 16.82/16.90 per troy ounce, compared to 17.32/17.36 per troy ounce from its last finish, which led to downward trend in the domestic prices, traders pointed out.
Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 24,165 (24,485) Gold (per 10 gm): Standard mint 99.5 purity: Rs 12,360 (12,550) Pure gold 99.9 purity: Rs 12,421 (12,610) UNI AR OBB SKB1836