Silver, gold dip on bullish advice

Mumbai, Apr 11: Both precious metals today tumbled with silver falling by Rs 385 per kg and gold by Rs 155 per ten gm on heavy selling pressure, traders at the Bombay Bullion Association said.

Silver opened low at Rs 23,700 on poor buying support. Later, it improved and finished at Rs 23,860, which was, however, Rs 385 less than yesterday's close of 24,245.

In the case of the yellow metal, standard gold (99.5 purity) opened low at Rs 11,930 per ten gm and pure gold (99.9 variety) opened low at Rs 11,985 per ten gm.

Later, standard gold and pure gold moved up and closed at Rs 11,970 and Rs 12,025 per ten gm respectively. But, both standard gold and pure gold declined by Rs 155 per ten gm as compared to their yesterday's close on persistent offloading by stock holders.

In London and Asian markets, gold was recorded at USD 931.00/933.15 and silver at USD 18.14/18.15.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 23,860 (24,245) Gold (per 10 gm): Standard mint 99.5 purity: Rs 11,970 (12,125) Pure gold 99.9 purity: Rs 12,025 (12,180).

UNI