Precious metals show heavy fall

Mumbai, Jan 17 (UNI) Both the Precious metals fell sharply with Silver crashing by Rs 270 per kg and Gold lost its shine by Rs 50 per ten gms on weak global advices on the Bombay Bullion Exchange today.

Silver fineness opened low at Rs 19,145 per kg on lack of fresh demand and closed at Rs 19105 with a huge loss of Rs 270 from yesterday's close.

In London, the white metal was quoted low at 12.62/12.65 per troy ounce against US 12.60/12.62 dollars per troy ounce in New York.

Similarly, standard Gold (99.5) opened weak at Rs 9,000 on sluggish demand and closed at Rs 8,970 per ten gm with a loss of Rs 50 from its last close.

Pure gold (99.9) opened low at Rs 9,050 per ten gm and further declined and closed at Rs 9020 with a loss of Rs 45 from its previous close.

In London, the yellow metal fell at USD 622.80/624.00 per troy ounce as compared to USD 620.50/622.50 per troy ounce in New York on Tuesday.

Following are the spot Silver and Gold closing prices: Silver (per kg) .999 grade : Rs 19,105 (19,375) Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,970 (9,020) Pure gold 99.9 purity : Rs 9,020 (9,065) UNI