Silver crashes, Gold eases on bullish advice

Mumbai, Jun 24: Silver crashed by Rs 245 per kg and Gold eased by Rs 40 per ten gm on the Bombay Bullion Exchange during the week ended June 23.

Silver .999 fineness grade opened high at Rs 18,440 per kg on Monday last on good demand and was the highest in the week. The white metal crashed on Saturday to its lowest of Rs 18,160 per kg on June 23, and closed at Rs 18,195 with a massive loss of Rs 245, traders said.

In the global markets, Silver also moved down at USD 13.04/13.08 per troy ounce as compared to the previous weekend close of USD 12.23/1326 per troy ounce.

Standard mint Gold (99.5 fineness) also opened upwards on Monday last at Rs 8,730 per ten gm and pure Gold (99.9 fineness) at Rs 8,775 per ten gm on better buying support from ornament makers.

The yellow metal registered a high of Rs 8,760 on June 20 for standard mint and Rs 8,805 for pure Gold on the same day.

Standard mint Gold recorded a low of Rs 8,625 per ten gm on June 22. Likewise, pure Gold also registered a low of Rs 8,680 per ten gm on the same day.

Finally, the yellow metal closed at Rs 8,670 for standard Gold and Rs 8,720 for pure Gold, with a loss of Rs 40 each from their last week's close.

Meanwhile, in London, Gold remained steady to USD 652.00/655.00 per troy ounce during the week ended June 22 as compared to the previous week's close of USD 652.00/655.00, traders added.

UNI