Silver and Gold move down on bullish advice

Mumbai, July 24: Both the precious metals registered a downward trend on poor demand with Silver declining by Rs 25 per kg and Gold by Rs 20 per ten gm, traders at the Bombay Bullion Association said today.

Silver fineness .999 opened low at Rs 18,215 per kg on thin buying support. Later, it went up and closed at Rs 18,260 per kg with a loss of Rs 25 from its yesterday's close of Rs 18,285.

In London, silver went up at USD 13.42/13.45 per troy ounce as compared to its last close of USD 13.37/13.40 per troy ounce.

Similarly, spot standard gold (99.5) and pure gold (99.9) also opened weak at Rs 8,915 and Rs 8,970 per ten gm respectively.

Later, the yellow metal moved up slightly and closed at Rs 8,930 and Rs 8,980 respectively with a loss of Rs 20 each from its last close.

In the London market, gold fell at 682/685 per troy ounce against 684/687 per troy ounce, traders said.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 18,260 (18,285), Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,930 (8,950) Pure gold 99.9 purity : Rs 8,980 (9,000).

UNI