Silver falls by Rs 875 per kg, gold by Rs 455 per ten gm

Mumbai, Dec 2: Silver and Gold were slumping following weak global advice with Silver falling by Rs 875 per kg and Gold by Rs 455 per ten gm during the week ending on December 1 at the Bombay Bullion Exchange (BBA).

Silver .999 fineness grade opened upward on Monday last at Rs 19,645 per kg owing to better buying support from domestic industrial users. The white metal recorded a high of Rs 19,765 on November 26 and a low of Rs 18,750 per kg on December 1 and closed at Rs 18,750 with a massive loss of Rs 875 per kg from its last weekend close, traders said.

In the global market, silver closed at USD 14.12/14.15 per troy ounce during the week ending on November 30 as compared to the previous weekend close of USD 14.75/14.80 per troy ounce.

Standard mint gold (99.5 fineness) opened slightly up on Monday last at Rs 10,590 per ten gm followed by pure gold (99.9 fineness) at Rs 10,640 per ten gm due to lesser stock supply.

The yellow metal registered a high of Rs 10,695 on November 26 for standard gold and Rs 10,745 for pure gold on the same day.

Standard gold recorded a low of Rs 10,095 on December 1.

Likewise, pure gold also registered a low of Rs 10,145 per ten gm on the same day.

Finally, standard gold and pure gold closed at Rs 10,095 and Rs 10,145 respectively, with a massive loss of Rs 455 each from their last week close.

Meanwhile, in London, gold was USD 791.25/792.50 per troy ounce during the week-end on November 30 as compared to the previous week's close of USD 806.50/809.00, traders added.

UNI