Silver, Gold cheaper

Mumbai, Sep 26 (UNI) The precious metals eased today with silver declining by Rs 70 per kg to Rs 20,975 and gold by Rs 85 per ten gm to Rs 13,025 on sustained heavy selling pressure by industrial users along with bearish global advice, traders at the Bombay Bullion Association said.

Silver .999 variety opened low at Rs 20,955 on poor demand from local dealers. Later, the white metal ended at Rs 20,975, losing Rs 70 per kg, from its previous close, on sluggish demand from jewellery makers.

Similarly, standard and pure gold opened low at Rs 12,985 and Rs 13,045 per ten gm respectively, on low buying support by stockists, in view of weak global advice.

Later, standard and pure gold fell by Rs 85 per ten gm each from their last close, on sustained heavy selling pressure by local dealers to end at Rs 13,025 and Rs 13,085 per ten gm respectively.

In the international market, gold was recorded at USD 882.00/882.50 per ounce (USD 888.00/889.50), while silver was at USD 13.38/13.39 an ounce (USD 13.44/13.45).

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 20,975 (21,045) Gold (per 10 gm): Standard mint 99.5 purity: Rs 13,025 (13,110) Pure gold 99.9 purity: Rs 13,085 (13,170) UNI NV RN NP1835