Silver and gold decline on weak global advices

Mumbai, Dec 7 (UNI) Both the precious metals today declined on the Bombay Bullion Exchange with Silver down by Rs 35 per kg and Gold plunging by Rs 90 per ten gms to a two-week low on lack of fresh demand and weak global advices.

Silver fineness opened at a one-week low of Rs 20,150 per kg on lack of fresh demand. Later, it improved and closed at Rs 20,215 with a loss of Rs 35 from yesterday's close.

There was increased offers by stockists in view of discouraging advice from the overseas market.

In London, the white metal was quoted low at USD 13.60/13.65 per troy ounce against USD 13.64/13.67 per troy ounce in New York.

Similarly, standard Gold (99.5) and pure Gold (99.9) also opened weak at Rs 9,145 and Rs 9,195 per ten gms respectively on poor demand.

Later, the Yellow metal improveed slightly and closed at Rs 9,155 and at Rs 9,205 per ten gm with a loss of Rs 90 each from its last close.

In London, the yellow metal also eased at USD 630.80/632.00 per troy ounce as compared to USD 635.20/638.50 per troy ounce at New York on Wednesday.

Following are the spot Silver and Gold closing prices: Silver (per kg) .999 grade : Rs 20,215 (20,250) Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,155 (9,245) Pure Gold 99.9 purity : Rs 9,205 (9,295) UNI VD OBB SKB1815