Precious metals decline on thin buying support

Published: Tuesday, May 22, 2007, 0:06 [IST]

Mumbai, May 21 (UNI) Both the Precious metals declined on thin buying support with Silver down by Rs 40 per kg and Gold eased by Rs 40 per ten gm on the Bombay Bullion Exchange.

Silver fineness .999 opened lower at Rs 18,260 per kg on poor demand. Later, it further came down and closed at Rs 18,255 with a loss of Rs 40 from saturday's close of Rs 18,295.

In London, Silver also slightly moved down to USD 12.92/12.94 per troy ounce against USD 12.94/12.97 per troy ounce in New York.

Similarly, standard Gold (99.5) and pure Gold (99.9) also opened downwards at Rs 8,740 and Rs 8,795 per ten gm on lack of fresh demand.

Later, both the yellow metal further eased as standard gold closed at Rs 8,730 and pure gold at Rs 8780 losing at Rs 40 each.

In London, Gold also moved downward to USD 658.00/660.00 per troy ounce as compared to USD 661.00/662.00 per troy ounce in New York on Friday.

Following are the spot Silver and Gold closing prices: Silver (per kg) .999 grade : Rs 18,255 (18,295), Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,730 (8,770) Pure gold 99.9 purity : Rs 8,780 (8,820) UNI

 

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