Silver crashes, gold eases on weak global advices

Mumbai, Dec 6 (UNI) Silver today crashed by Rs 230 per kg and Gold was lower by Rs 65 per ten gm on weak global advices at the Bombay Bullion Exchange.

Silver fineness opened very low at Rs 20,270 per kg on poor demand. Later, it declined and closed at Rs 20,250 with a massive loss of Rs 230 from its yesterday's close.

There was sustained heavy selling pressure from Jewellers in view of poor advice from the overseas market.

In London, the white metal was quoted low at USD 13.65/13.67 per troy ounce against USD 14.05/14.10 per troy ounce in New York.

Similarly, standard Gold (99.5) and pure Gold (99.9) also opened weak at Rs 9,255 and Rs 9,360 per ten gms respectively on poor demand.

Later, the Yellow metal eased and closed at Rs 9,245 and at Rs 9,295 per ten gm with a loss of Rs 70 for standard gold and Rs 65 for pure gold from its last close.

In London, the yellow metal also fell at USD 637.80/638.00 per troy ounce as compared to USD 640.20/644.50 per troy ounce at New York on Tuesday.

Following are the spot Silver and Gold closing prices: Silver (per kg) .999 grade : Rs 20,250 (20,480) Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,245 (9,315) Pure Gold 99.9 purity : Rs 9,295 (9,360) UNI VD OBB SKB1812