Precious metals decline on sluggish demand

Mumbai, Jun 10 (UNI) Precious metals declined further on sluggish demand, with Silver easing by Rs 470 per kg and Gold by Rs 150 per ten gm on the Bombay Bullion Exchange during the week ended June 9.

Silver .999 fineness grade opened low at Rs 18,790 per kg Monday last on lack of fresh demand. The white metal recorded high at Rs 18,910 on June 5 with a loss of Rs 470 per kg from its last weekend close. It registered a low of Rs 18,375 per kg on June 9, traders said.

In the global markets, silver slashed to USD 13.07/13.10 per troy ounce as compared to the previous weekend close of USD 13.68/13.71 per troy ounce.

Similarly, standard mint gold (99.5 fineness) also opened weak on Monday last at Rs 8,815 per ten gm and pure gold (99.9 fineness) at Rs 8,865 per ten gm on thin buying support from ornament makers.

The yellow metal registered high of Rs 8,860 on June 7 for standard mint and Rs 8,910 for pure gold on the same day.

Standard mint gold recorded a low of Rs 8,690 per ten gm on June 9. Likewise, pure gold also registered a low of Rs 8,740 per ten gm on the same day.

Finally, the yellow metal closed at Rs 8,690 for standard gold and Rs 8,740 for pure gold with a massive loss of Rs 150 each from their last week's close.

Meanwhile, in London, gold fell to USD 645.00/648.00 per troy ounce during the week ended June 8 as compared to the previous week's close of USD 669.00/672.00, traders added.

UNI