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Mixed trend in precious metals

Posted on Nov 08, 10:40PM | UNI

Silver nosedived by Rs 485 per kg to Rs 60,290 on lack of buying enquiries from stockists and Gold rose marginally by Rs 20 to Rs 31,200 per ten gm on scattered demand from local dealers amid mixed trend in Asian Markets, traders at the Bombay Bullion Assocation (BBA) said.

Surging by Rs 1,050 per kg yesterday, Silver today fell by Rs 205 per kg in the opening session. Till the end of the day, it lost ground by Rs 485 per kg to close in red at Rs 60,290 from its last close.

Gold remained firm for the fourth day today, as it rose by Rs 65 per ten gm in the opening session.

Finally, standard and pure gold increased by Rs 20 and Rs 15 per ten gm respectively.

Standard and pure gold finished at Rs 31,200 and Rs 31,335 per ten gm respectively.

In Asian Markets, a mixed trend was seen as Silver was quoted low at USD 31.28 per ounce while Gold rose at USD 17.41 per ounce.

Following were the closing rates of spot silver and gold: Silver per kg Rs 60,290 (Rs 60,775) Gold 99.5 (standard mint) Rs 31,200 (Rs 31,180) Gold 00.8 (pure) Rs 31,335 (Rs 31,320)