Gold, Silver down

Mumbai, Oct 7: Spot silver and gold sliding by Rs 265 per kg and Rs 90 per ten gm respectively, owing to sluggish demand by consumers during the week ended October 6 on the Bombay Bullion Exchange.

Silver.999 fineness grade moved upward on Monday last at Rs 18,395 per kg on heavy demand from industrial users. The white metal recorded a high at Rs 18,400 on October 1 and low at Rs 17,870 per kg on October 4 and closed at Rs 18,055 per kg with a whopping loss of Rs 265 from its last weekend close, traders said.

In the global market, silver closed low at USD 13.45/13.46 per troy ounce during the week ended October 5 as compared to the previous weekend close at USD 13.70/13.85 per troy ounce.

Similarly standard gold (99.5 fineness) also opened upward on Monday last at Rs 9,605 per ten gm followed by pure gold (99.9 fineness) at Rs 9,655 per ten gm on lesser stock supply from ornament makers.

The yellow metal registered a high at Rs Rs 9,605 on October 1 for standard mint and Rs 9,655 for pure gold on the same day.

Standard gold recorded a low of Rs 9,320 per ten gm on October 4 followed by pure gold at Rs 9,370 on the same day.

At last, standard gold and pure gold closed at Rs 9,505 and Rs 9,555 with a loss of Rs 90 each per ten gm from their last week close.

Meanwhile, in London gold was USD 735.50/736.00 per troy ounce during the week ended October 5 as compared to the previous weeks close of USD 742.25/746.00, traders added.

UNI