Silver up, Gold down on bearish global advice

Mumbai, Apr 1: A mixed trend was witnessed in precious metals with Silver went up by Rs 20 per kg and Gold slightly fell by Rs five per ten gm on the Bombay Bullion Exchange.

Silver .999 fineness grade opened upward following good industrial demand at Rs 19,460 per kg on Monday. The white metal recorded a high of Rs 19,520 on March 31 and a low of Rs 19,470 per kg on March 26 before closing with a gain of Rs 70 per kg from its last weekend close, traders said.

In the global markets, Silver went up at USD 13.40/13.42 dollars per troy ounce as compared to the previous weekend close of USD 13.08/13.13 per troy ounce.

Standard mint Gold (99.5 fineness) opened downward on Monday at Rs 9,320 per ten gm. It was followed by pure Gold (99.9 fineness) at Rs 9,365 per ten gm on sluggish demand from ornament makers.

The yellow metal registered high of Rs 9,435 on March 29 for standard mint and Rs 9,485 for pure Gold on the same day.

Standard mint Gold recorded a low of Rs 9,310 per ten gm on March 26. Likewise, pure Gold also registered a low of Rs 9,360 per ten gm on the same day.

Finally, the yellow metal closed at Rs 9,395 for standard Gold and Rs 9,445 for pure Gold, hiked by Rs 65 for standard gold and Rs 70 for pure gold per ten gm from their last week's close.

Meanwhile, in London, Gold was high at USD 663/665.00 per troy ounce during the week ended March 30 as compared to the previous week's close of USD 654.00/656.00, traders added.

UNI