Precious metals decline on weak global advice

Mumbai, Jan 21 (UNI) Both the precious metals today declined with Silver down by Rs 215 per kg and Gold by Rs 65 per ten gms on mild stockists offerings and weak global advice, traders at the Bombay Bullion Association (BBA) said.

Silver fineness (.999) purity opened downward at Rs 20,600 per kg on poor buying support. Later, it fell further and closed at Rs 20,470 per kg with a loss of Rs 215 per kg as compared to its previous close.

In the London market, silver edged down at 16.06/16.10 per troy ounce, compared to its last close of 16.12/16.13 per troy ounce.

Standard gold (99.5 purity) and pure gold (99.9) opened lower at Rs 11,245 and Rs 11,295 per ten gm respectively on sluggish demand by consumers.

Later, the yellow metal further moved down and closed at Rs 11,190 and Rs 11,240, with a loss of Rs 65 for both standard gold and pure gold from their last close due to restricted buying on weak global advice.

In the overseas market, Gold inched down at 878.00/880.00 per troy ounce against 881.00/882.00 per troy ounce.

Following are spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 20,470 (20,685) Gold (per 10 gm) Standard mint 99.5 purity: Rs 11,190 (11,255) Pure gold 99.9 purity: Rs 11,240 (11,305).

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