Mumbai: Precious metals ease

Mumbai, Aug 19: Both the precious metals eased, with silver crashing by Rs 885 per kg and gold by Rs 20 per ten gm on bearish global advices during the week ended August 18 on the Bombay Bullion Exchange.

Silver (0.999 fineness grade) opened downward on Monday last at Rs 17,795 per kg on poor buying support from domestic industrial users.

The white metal recorded the high of Rs 17,820 on August 13 and low of Rs 17,605 per kg on August 16. It closed at Rs 16,960 per kg with a huge loss of Rs 885 from its last weekend's close, traders said.

In the global market, silver closed at 11.66/11.72 US Dollars per troy ounce during the week ended August 18.

However, standard mint gold (99.5 fineness) also opened downwards on Monday last at Rs 8,840 per ten gm followed by pure gold (99.9 fineness) at Rs 8,890 per ten gm on lack of good demand from ornament makers.

The yellow metal registered a high of Rs 8,895 on August 16 and Rs 8,945 for pure gold on the same day.

Standard mint gold recorded a low of Rs 8,790 on August 17.

Likewise, pure gold also registered a low of Rs 8,840 on the same day.

Finally, both standard gold and pure gold closed at Rs 8,850 and Rs 8,900 with a loss of Rs 20 respectively from their last close.

Meanwhile, in London, gold was USD 652.00/656.25 per troy ounce during the week ended August 18.

UNI