Precious metals fall

Mumbai, July 24 (UNI) Both the precious metals continued their downward trend for the second consecutive day today as Silver fell by Rs 180 per kg to close at Rs 24,835 and Gold declined by Rs 165 per ten gm to finish at Rs 12,630 on sluggish demand by ornament makers in view of weak global advice, traders at the Bombay Bullion Association (BBA) said.

In last two days, Silver has crashed by Rs 950, while gold has slumped by Rs 795.

The white metal opened low below 25 k mark today at Rs 24,790 per kg on lack of demand from industrial users and finally closed at Rs 24,835, a drop of Rs 180 from its last close.

Standard gold and pure gold opened low at Rs 12,580 and Rs 12,640 respectively. Later, standard gold and pure gold closed at Rs 12,630 and Rs 12,695 respectively.

Standard gold and pure gold slipped by Rs 165 and Rs 160 per ten gm respectively amid mild stockists offerings in view of weak overseas advices, traders said.

In London and Asian markets, A negative sentiment was seen as gold was recorded at USD 927.00/928.00 per troy ounce, against 940.00/941.50, the previous day, while the white metal was quoted at USD 17.52/17.53 per troy ounce, compared to 17.75/17.76 per troy ounce from its last close, traders said.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 24,835 (25,015) Gold (per 10 gm): Standard mint 99.5 purity: Rs 12,630 (12,795) Pure gold 99.9 purity: Rs 12,695 (12,855) UNI NV GS OBB VKG1855