Mixed trends in the precious metals prices

Mumbai, Mar 14 (UNI) Prices of silver went up on higher demand while that of gold came down on thin buying support, traders at the bullion market here said today.

Silver opened high at Rs 14,295 per kg and closed at Rs 14,290 with a gain of Rs 75 from its yesterday's close.

There was reduced stock supply from local industrial users and also encouraging advice from the overseas markets.

In London, the white metal was quoted high at US dollar 10.09/10.12 per troy ounce from the previous close of USD 9.98/10.00 per troy ounce on Monday.

Standard mint gold (99.5 purity) and pure gold (99.9 purity) however,opened weak at Rs 7,890 and Rs 7,930 per ten gm, respectively.

But both the yellow metals closed low at Rs 7,895 for standard mint and for pure gold at Rs 7,940 per ten gm with a loss of Rs five each from their last close.

There was lack of fresh demand from ornament makers along with improved offers by stockist from importers.

The yellow metal was quoted low at USD 543.50/544.00 per troy ounce from the previous close of USD 544.50/545.00 per troy ounce.

Trading in bullion market will remain officially closed tomorrow on account of Holi festival (2nd day), traders added.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 14,290 (Rs 14,215), Gold (per 10 gm): Standard mint 99.5 purity : Rs 7,895 (Rs 7,900), Pure Gold 99.9 purity : Rs 7,940 (Rs 7,945).

UNI VD AR KU AW1806