Silver, Gold down on heavy selling pressure

Mumbai, Apr 27 (UNI) Both the precious metals continued to register a downward trend for the fifth consecutive day on sustained heavy selling pressure with Silver declining by Rs 470 per kg and Gold by Rs 90 per ten gm on the Bombay Bullion Exchange today.

Silver fineness .999 opened low at Rs 18,880 per kg on poor demand. Later, it eased slightly and closed at Rs 18,875 with a huge loss of Rs 470 from yesterday's close of Rs 19,345.

In London, Silver crashed to USD 13.27/13.29 per troy ounce against USD 13.65/13.68 per troy ounce in New York.

Similarly, standard Gold (99.5) opened at Rs 8,995 per ten gm and closed at Rs 9,005 with a loss of Rs 90 from its last close. Pure Gold (99.9) also opened weak at Rs 9,040 per ten gm and closed at Rs 9,055 per ten gm with a loss of Rs 90 from its previous close.

In London, Gold fell to USD 671.00/673.00 per troy ounce as compared to USD 679.00/681.00 per troy ounce in New York on Thursday.

Following are the spot Silver and Gold closing prices: Silver (per kg) .999 grade : Rs 18,875 (19,345), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,005 (9,095) Pure Gold 99.9 purity : Rs 9,055 (9,145) UNI