Silver, gold decline on weak global advices

Mumbai, Dec 18 (UNI) Silver and Gold today declined on lack of fresh demand and weak global advices with the white metal easing by a whopping Rs 770 per kg and Gold by Rs 100 per ten gm on the Bombay Bullion Exchange.

Silver fineness opened low at Rs 19,505 per kg on poor demand.

Later, it edged down and closed at Rs 19,490 per kg with a massive loss of Rs 770 from Friday's close.

There was thin buying support by stockists in view of poor advice from the overseas market.

In London, the white metal was quoted low at USD 12.90/12.93 per troy ounce against USD 13.73/13.76 per troy ounce in New York.

Similarly, standard Gold (99.5) and pure Gold (99.9) also opened weak at Rs 8,995 and Rs 9,045 per ten gm respectively on poor demand.

Standard gold closed at its opening level of Rs 8,995 per ten grams on moderate demand with a loss of Rs 100 from its previous close.

Pure gold improved slightly and closed at Rs 9,050 per ten gm with a loss of Rs 95 from its last close.

In London, the yellow metal fell at USD 614.25/617.50 per troy ounce as compared to USD 623.00/626.00 per troy ounce at New York on Friday.

Following are the spot Silver and Gold closing prices: Silver (per kg) .999 grade : Rs 19,490 (20,260) Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,995 (9,095 Pure Gold 99.9 purity : Rs 9,050 (9,145) UNI NV VD OBB AG1816