Silver, Gold ease on bearish global advice

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Mumbai, Feb 4 (UNI) Both the precious metals slipped further today with Silver moving down by Rs 75 per kg and Gold by Rs 70 per ten gm on bearish global advice and lack of demand, traders at the Bombay Bullion Association (BBA) said.

Silver fineness (.999) purity opened upward at Rs 21,120 per kg on fresh buying support. Later, it closed at Rs 21,030 per kg with a loss of Rs 75 per kg as compared to its previous close.

In the last two days, Silver has tumbled by Rs 270 per kg and Gold by Rs 375 per ten gm.

In the London market, Silver was quoted at 16.81/16.82 per troy ounce compared to its last close of 16.84/16.89 per troy ounce.

Standard Gold (99.5 purity) and pure Gold (99.9) opened high at Rs 11,600 and Rs 11,650 per ten gm respectively, on good demand.

Later, standard gold and pure gold lost its shine and closed at Rs 11,515 and Rs 11,570, with a loss of Rs 70 for standard gold and Rs 65 for pure gold from their previous close.

In the overseas market, gold edged down 910.00/911.25 per troy ounce against 912.00/913.00 per troy ounce.

Following are spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 21,030 (21,105) Gold (per 10 gm) Standard mint 99.5 purity: Rs 11,515 (11,585) Pure gold 99.9 purity: Rs 11,570 (11,635.


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