Silver crashes, gold up on festival demand

Mumbai, Aug 16: A mixed trend was witnessed in precious metals as Silver today closed lower by Rs 150 per kg from its last close on sustained heavy offers by stock-holders in view of subdued advice from global markets, traders at the Bombay Bullion Association said.

However, gold rose smartly by Rs 50 to close at Rs 8945 per ten gm on fresh seasonal ornament makers demand.

Following are the closing rates of spot silver and gold: Silver (per kg) 999 fineness grade : Rs 17,605 (17,755), Gold (per 10 gm) Gold 99.5 purity standard mint : Rs 8,895 (8,845) Gold 99.9 purity pure Gold : Rs 8,945 (8,895).

UNI