Silver, Gold show downward trend on weak global advice

Mumbai, July 25 (UNI) Both the precious metals registered a downward trend on thin ornament makers demand in view of subdued advice from global markets with Silver declining by Rs 85 per kg and Gold by Rs 55 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 came down and closed low at Rs 18,175 per kg with a major loss of Rs 85 from its yesterday's close of Rs 18,260.

In London, silver was lower at USD 13.20/13.22 per troy ounce as compared to its last close of USD 13.42/13.440 per troy ounce.

Similarly, spot standard gold (99.5) and pure gold (99.9) also opened weak at Rs 8,920 and Rs 8,970 per ten gm respectively.

Later, the yellow metal drifted lower slightly and closed in the red at Rs 8,880 and Rs 8,925 respectively with a small loss of Rs 50 for standard mint and for pure gold by Rs 55 from their last close.

In the London market, gold was down at 678/680 per troy ounce against 682/684 per troy ounce, traders said.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 18,175 (18,260), Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,880 (8,930) Pure gold 99.9 purity : Rs 8,925 (8,980) UNI