Precious metals decline in weekend on advices

Mumbai, Apr 22: Silver and gold declined as Silver fell by Rs 95 per kg and Gold by Rs 70 per ten gm on the Bombay Bullion Exchange, during the week ended April 21.

Silver .999 fineness grade opened high at Rs 20,085 per kg on Monday. The white metal recorded a high of Rs 20,085 on April 16 and a low of Rs 19,850 per kg on April 20 before closing at Rs 19,940 with a loss of Rs 95 per kg from its last weekend close, traders said.

In the global markets, Silver edged down at USD 13.93/1396 per troy ounce as compared to the previous weekend close of USD 14.05/14.08 per troy ounce.

However, standard mint Gold (99.5 fineness) also opened weak on Monday at Rs 9,455 per ten gm. It was followed by pure Gold (99.9 fineness) at Rs 9,505 per ten gm on poor demand from ornament makers.

The yellow metal registered a high of Rs 9,455 on April 16 for standard mint and Rs 9,505 for pure Gold on the same day.

Standard mint Gold recorded a low of Rs 9,345 per ten gm on April 17. Likewise, pure Gold also registered a low of Rs 9,395 per ten gm on the same day.

Finally, the yellow metal closed at Rs 9,400 for standard Gold and Rs 9,450 for pure Gold with a loss of Rs 75 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 689.00/692.00 per troy ounce during the week ended on April 20 as compared to the previous week's close of USD 682.00/685.00, traders said.

UNI