Precious metals plunge sharply

Mumbai, Feb 21 (UNI) Both the Precious metals fell sharply today with Silver plunging by a whopping Rs 335 per kg and pure Gold lost its shine by Rs 135 per tem gm, on the Bombay Bullion Exchange.

Standard Gold (99.5) and pure Gold (99.9) opened downward at Rs 9,470 and Rs 9,515 per ten gm on sluggish demand.

Later, the yellow metal declined further and closed at Rs 9,450 and Rs 9,500 per ten gm with a loss of Rs 140 for standard Gold and Rs 135 for pure Gold from its yesterday's close.

In London, the yellow metal also eased at USD 657.80/659.00 per troy ounce as compared to USD 665.60/667.30 per troy ounce in New York on Tuesday.

Silver fineness opened downward at Rs 20,180 per kg. Later it eased further and closed at Rs 20,105 per kg with a huge loss of Rs 335 from its last close.

In London, the white metal also declined at 13.73/13.75 per troy ounce against USD 13.94/13.98 per troy ounce in New York.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 20,105 (20,440) Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,450 (9,590) Pure gold 99.9 purity : Rs 9,500 (9,635) UNI