Precious metals ease on weak global advice

Mumbai, Dec 6 (UNI) Both the precious metals registered a downward trend, with Silver sliding by Rs 125 per kg and Gold by Rs 165 per ten gm today on lack of demand from retailers, traders at the Bombay Bullion Association (BBA) said.

Silver (.999 fineness) opened low at Rs 18,980 on poor demand from industrial users.

Later, the white metal slightly improved and closed at Rs 18,955 with a loss of Rs 125 per kg from its last close.

In New York, London and other markets, the white metal was quoted lower at USD 14.20/14.22 per troy ounce against USD 14.35/14.37 per troy ounce the previous day, traders added.

Similarly, price of standard mint gold (99.5 purity) and pure gold (99.9 purity) resumed downward at Rs 10,160 per ten gm and Rs 10,215 per ten gm respectively on sluggish demand by local dealers.

Later, both the metals edged down further as standard gold and pure gold closed at Rs 10,105 and Rs 10,150 per ten gm respectively.

In London and New York, the yellow metal was quoted downward at USD 791.25/793.50 per troy ounce compared to USD 803.25/805.50 the previous day, traders added.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade Rs 18,955 (19,080) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,105 (10,270) Pure gold 99.9 purity: Rs 10,150 (10,320) UNI NV OBB AG1825