Gold, Silver end lower on bearish global advices

Mumbai, May 28 (UNI) Gold today tumbled to a seven-month low and Silver plunged to an eight-month low on bearish global advices and sluggish demand with the white metal down by 60 per kg and Gold by Rs 10 per ten gm on the Bullion Exchange.

Silver fineness .999 opened downward at Rs 18,020 - later it slightly improved and closed at Rs 18,045 with a loss of Rs 60 from Saturday's close.

In London, silver advanced to USD 12.94/12.96 per troy ounce against USD 12.93/12.95 per troy ounce in New York.

However, standard gold (99.5) and pure gold (99.9) opened low at Rs 8,630 and Rs 8,680 per ten gm respectively on poor demand.

Later, standard Gold and pure Gold went up and closed at Rs 8,650 and Rs 8,700 respectively losing Rs 10 each from its Saturday's close.

In London, gold moved up to USD 654.00/656.00 per troy ounce as compared to USD 654.00/655.50 per troy ounce in New York on Friday.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 18,045 (18,105) Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,650 (8,660) Pure gold 99.9 purity : Rs 8,700 (8,710) UNI