Silver down by 8-wk and gold by 7-wk low

Mumbai, Mar 14 (UNI) Silver today fell to a eight-week low and Gold to a seven-week low on poor demand and weak global advices with the white metal crashing by Rs 280 per kg and Gold by Rs 110 per ten gm on the Bombay Bullion Exchange.

Silver fineness opened at a eight-week low of Rs 19,140 per kg. It crashed further on lack of fresh demand and closed at Rs 19,075 per kg with a massive loss of Rs 280 from its yesterday's close.

In London, Silver also went down at USD 12.60/12.65 per troy ounce against USD 12.95/12.97 per troy ounce in New York.

Similarly, standard Gold (99.5) and pure Gold (99.9) also opened to seven-week low at Rs 9,255 and Rs 9,305 per ten gm on poor demand.

The yellow metal declined further and closed at Rs 9,235 and Rs 9,285 with a huge loss of Rs 110 each from their last close.

In London, the yellow metal also fell at USD 639.10/641.00 per troy ounce as compared to USD 645.40/648.00 per troy ounce in New York on Tuesday.

Following are the spot Silver and Gold closing prices: Silver (per kg) .999 grade : Rs 19,075 (19,355), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,235 (9,345) Pure gold 99.9 purity : Rs 9,285 (9,395) UNI NVVD OBB VKG1818