Silver, gold decline on lack of demand

Mumbai, May 7 (UNI) Both the precious metals declined on lack of fresh demand with Silver down by Rs 15 per kg and Gold by Rs 40 per ten gm on the Bombay Bullion Exchange.

Silver fineness .999 opened low at Rs 18,945 per kg on poor demand. Later, it went up slightly and closed at Rs 18,955 with a loss of just Rs 15 from Saturday's close of Rs 18,970.

In London, Silver rose to USD 13.51/13.55 per troy ounce against USD 13.40/13.47 per troy ounce in New York.

Similarly, standard Gold (99.5) and pure Gold (99.9) also opened weak at Rs 9,155 and Rs 9,205 per ten gm on thin buying support.

Later, the yellow metal improved and closed at Rs 9,120 and Rs 9,165 per ten gm with a loss of Rs 35 for standard Gold and Rs 40 for pure Gold from their last close.

In London, Gold moved up to USD 688.00/691.00 per troy ounce as compared to USD 686.00/689.00 per troy ounce in New York on Friday.

Following are the spot Silver and Gold closing prices: Silver (per kg) .999 grade : Rs 18,955 (18,970), Gold (per 10 gm): Standard mint 99.5 purity : Rs 9,120 (9,155) Pure gold 99.9 purity : Rs 9,165 (9,205) UNI