Silver, Gold ease on thin jewellery demand

Mumbai, Jan 28 (UNI) Both the precious metals closed eased today with Silver down by Rs 90 per kg and Gold by Rs 15 per ten gm on poor ornament makers demand despite bullish global advice, traders at the Bombay Bullion Association (BBA) said.

Silver fineness (.999) purity opened upward at Rs 20,985 per kg on better buying support. Later, it declined and closed at Rs 20,880 per kg with a loss of Rs 90 per kg as compared to its previous close.

Though both the precious metals eased in the domestic market, in the international market Gold and Silver edged up on speculative buying.

In the London market, Silver inched up at 16.46/16.47 per troy ounce, compared to its last close of 16.36/16.38 per troy ounce,which did not impact on domestic price.

Standard gold (99.5 purity) and pure gold (99.9) opened downward at Rs 11,715 and Rs 11,770 per ten gm respectively on sluggish demand by bulk consumers.

Later, the yellow metal fell further and closed at Rs 11,710 and Rs 11,760, with a loss of Rs 15 for standard gold and Rs 20 for pure gold from their previous close.

In the overseas market, Gold was up at 915.00/916.00 per troy ounce against 907.00/908.00 per troy ounce also discounted in local prices, traders pointed out.

Following are spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 20,880 (20,970) Gold (per 10 gm) Standard mint 99.5 purity: Rs 11,710 (11,725) Pure gold 99.9 purity: Rs 11,760 (11,780).

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