Gold, silver prices slips on bearish global advice

By Staff
|
Google Oneindia News

Mumbai, Aug 1 (UNI) Values of gold and silver suffered a modest setback on lack of fresh demand from jewellers in view of subdued advice from International markets traders at the Bombay Bullion Association today said.

Standard gold (99.5 purity) and pure gold (99.9 purity) prices opened steady at Rs 9,605 and Rs 9,650 per ten gm on moderate demand from ornament makers.

Later, both the yellow metals fell and closed low at Rs 9,595 and Rs 9,645 per ten gm, with a loss of Rs ten for standard mint and Rs five for pure gold from their yesterday's close.

There was poor demand from ornament-makers in view of weak advice from overseas market.

In London, the yellow metal was quoted low at USD 633.00/634.00 per troy ounce, as compared to USD 634.50/635.00 per troy ounce at New York yesterday.

Silver .999 fineness variety opened high at Rs 18,075 per kg.

Later, it closed low at Rs 18,045 per kg with a loss of Rs ten from its last close.

There was thin buying support by stockists in view of weak advice from oversea markets.

In London, silver was also quoted low at US Dollar 11.35/11.36 per troy ounce, as compared to its last close of USD 11.44/11.45 New York, traders pointed out.

Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade : Rs 18,045 (Rs 18,055), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,595 (Rs 9,605), Pure gold 99.9 purity : Rs 9,645 (Rs 9,650).

UNI VD-AR MJ AW1818

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