Silver, gold decline on thin buying support

Mumbai, Dec 5 (UNI) Silver drifted lower by Rs 35 per kg and Gold was down by Rs 45 per ten gm, on thin buying support at the Bombay Bullion Exchange today.

Silver fineness opened low at Rs 20,480 per kg on thin buying support. Later, it remained at same level and closed at Rs 20,480 with a loss of Rs 35 from its yesterday's close.

There was lack of fresh demand from jewellers in view of discouraging advice from the overseas market.

In London, the white metal was quoted high at USD 14.08/14.10 per troy ounce against USD 14.00/14.03 per troy ounce in New York.

Similarly, standard Gold (99.5) and pure Gold (99.9) also opened weak at Rs 9,340 and Rs 9,385 per ten gms respectively on poor demand.

Later, they drifted lower and closed at Rs 9,315 and at Rs 9,360 with a loss of Rs 40 for standard gold and Rs 45 for pure gold from its last close.

In London, the yellow metal low at USD 643.80/644.50 per troy ounce as compared to USD 646.20/647.50 per troy ounce at New York on Monday.

Following are the spot Silver and Gold closing prices: Silver (per kg) .999 grade : Rs 20,480 (20,515) Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,315 (9,355) Pure Gold 99.9 purity : Rs 9,360 (9,405) UNI VD OBB VKG1940