Gold and Silver plunge heavily

Mumbai, Apr 25 (UNI) Both the precious metals today plunged heavily on the Bombay Bullion Exchange due to poor demand with Silver down by Rs 280 per kg and Gold by Rs 115 per ten gm.

Silver fell to a one-month low and Gold to a three-month low.

Silver fineness .999 opened low at Rs 19,480 per kg on poor demand. Later, the white metal improved and closed at Rs 19,520 with a loss of Rs 280 from yesterday's close of Rs 19,800.

In London, Silver fell to USD 13.75/13.86 per troy ounce against USD 13.00/13.07 per troy ounce in New York.

Similarly, standard Gold (99.5) opened weak at Rs 9,150 per ten gm and closed at the same level with a loss of Rs 110 from its last close. Pure Gold (99.9) also opened weak at Rs 9,200 per ten gm and closed at Rs 9,195 per ten gm with a loss of Rs 115 from its previous close.

In London, Gold edged down to USD 683.00/686.00 per troy ounce as compared to USD 688.00/691.00 per troy ounce in New York on Wednesday.

Following are the spot Silver and Gold closing prices: Silver (per kg) .999 grade : Rs 19,520 (19,800), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,150 (9,260) Pure Gold 99.9 purity : Rs 9,195 (9,310) UNI