Silver, gold fall further on bearish global advice

Mumbai, Mar 9 (UNI) Silver and gold prices fell further for the third consecutive day today on weak global advice, traders at the bullion market said.

Silver, which opened low at Rs 14,040 per kg, closed at Rs 14,160 with a major loss of Rs 55 from its yesterday's close.

There was poor demand from local industrial users and also discouraging advice from the overseas markets, besides lesser stock supply from neighbouring centres.

In London, the white metal was quoted low at US dollar 9.82/9.86 per troy ounce from the previous close of USD 10.04/9.98 per troy ounce on last close.

Similarly, standard mint gold (99.5 purity) opened low at Rs 7,930 per ten gm and closed further lower at Rs 7,945. Pure gold (99.9 purity) also quoted below Rs 8,000 mark and opened at Rs 7,970 per ten gm and closed low at Rs 7,985 per ten gm .

Both the yellow metals went with a loss of Rs 30 each from their previous close.

There was sluggish demand from ornament-makers and due to lack of offers from overseas market.

The yellow metal was quoted low at USD 545.70/546.00 per troy ounce from the previous close of USD 549.00/550.00 per troy ounce.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 14,160 (Rs 14,215), Gold (per 10 gm): Standard mint 99.5 purity : Rs 7,945 (Rs 7,975), Pure Gold 99.9 purity : Rs 7,985 (Rs 8,015).

UNI VD-AR KD AW1838