Gold down to Rs 11,400

Mumbai, Apr 30 (UNI) Gold today tumbled to a three month low to close at Rs 11,400, falling by Rs 205 per ten gm on sluggish demand by ornament makers and weak global advices, traders at the Bombay Bullion Association said.

Silver .999 fineness variety opened downward at Rs 22,700 per kg.

Later, it slightly improved and closed at Rs 22,715 per kg with a loss of Rs 220 per kg from its previous finish.

In the yellow metal segment, standard gold (99.5 purity) and pure gold opened low at Rs 11,455 and Rs 11,515 respectively due to lack of industrial demand.

Later, both standard and pure gold further slipped amid sustained selling pressure from stockists and finished at Rs 11,400 for standard gold and Rs 11,460 for pure gold. Both the prices dipped by Rs 205 each from their previous close. There was thin buying support even at the current low level by jewellery makers.

The yellow metal was quoted low at USD 872.25 /873.85 per troy ounce at London from its last close while Silver moved downward at 16.67/16.68 per troy ounce from its previous close, which led to downward trend in domestic prices, traders added.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 22,715 (22,935) Gold (per 10 gm): Standard mint 99.5 purity: Rs 11,400 (11,605) Pure gold 99.9 purity: Rs 11,460 (11,665) UNI NV OBB AG1849