Precious metals come down heavily on global advice

Mumbai, Jan 7: Both precious metals came down heavily on bearishglobal advices with Silver declining by Rs 815 per kg and Gold (99.5)by Rs 365 per ten gm during the week ended Jan 6 on the Bombay BullionExchange.

Silver .999 fineness grade opened lower on Monday at Rs 19,510 perkg on lack of fresh demand from domestic industrial users. The whitemetal recorded a high of Rs 19,695 on January 3 and low of Rs 18,720per kg on January 6 before finally closing at the same rate of Rs18,720 per kg from its previous close last weekend, traders said.

In the global markets, Silver closed to USD 12.20/12.25 per troyounce during the week ended on Friday as compared to the previousweekend close of USD 12.18/12.20 per troy ounce.

Similarly, standard mint Gold (99.5 fineness) opened flat onMonday at Rs 9,170 per ten gm followed by pure Gold (99.9 fineness)which also opened flat at Rs 9,215 per ten gm on moderate demand fromornament makers.

The yellow metal registered a high at Rs 9,210 on January 2 for standard mint and Rs 9,260 for pure Gold on the same day.

Standard mint Gold recorded a low of Rs 8,805 per ten gm onJanuary 6. Likewise, pure Gold also registered a low of Rs 8,860 perten gm on January 6. Finally, both the yellow metal closed lower at Rs8,805 for standard Gold and Rs 8,860 for pure Gold with a massive lossof Rs 365 and Rs 355 respectively from their last week's close.

Meanwhile, in London, Gold came down to USD 620/623.50 per troyounce during the week ended January 5 as compared to the previousweek's close of USD 618.50/620.00, traders added.

UNI >