Silver up, gold down

Mumbai, May 29 (UNI) A mixed trend was winessed in bullion closing prices as values of spot silver rose on better buying support while gold declined on lack of fresh demand, traders at the bullion market said today.

Silver .999 fineness variety opened high at Rs 19,390 per kg on thin buying support. Later, it closed positive at Rs 19,370 per kg with a gain of Rs five from its last close on Saturday. There was scattered demand from stockists.

In London the bullion market remained closed for U.S. Memorial Day holiday.

Standard gold (99.5 purity) and pure gold (99.9 purity) opened steady on moderate demand this morning at Rs 9,700 and Rs 9,750 per 10 gm respectively.

Both the yellow metals closed weak at Rs 9,680 for standard mint and for pure gold at Rs 9,735 per 10 gm, with a loss of Rs 20 for standard gold and Rs 15 for pure gold from its Saturday's close.

There was sustained heavy selling pressure from stockists.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 19,370 (Rs 19,365), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,680 (Rs 9,700), Pure gold 99.9 purity : Rs 9,735 (Rs 9,750).

UNI VD/AR PM AG1802