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Silver, Gold fall

Posted on Nov 16, 10:14PM | UNI

The precious metals were down today as Silver tumbled by Rs 445 to Rs 61,640 per kg and Gold declined by Rs 235 per ten gm to Rs 31,540 on lack of buying enquiries from stockists along with discouraging advice in global market, traders at the Bombay Bullion Assocation (BBA) said.

Silver opened weak by Rs 320 per kg, till the end of the day it further lost ground by Rs 445 per kg to Rs 61,640 from its previous close.

Gold slipped by Rs 275 per ten gm in the opening session.

Finally, it ended in red at Rs 31,540, down by Rs 235 per ten gm as against its previous close.

Pure variety also decreased by Rs 250 to Rs 31,675 per ten gm.

A negative trend was seen in Asian Markets, where Silver was quoted lower at USD 32.41 per ounce and Gold eased to USD 17.14 per ounce.

Following were the closing rates of spot silver and gold: Silver per kg Rs 61,640 (Rs 62,085) Gold 99.5 (standard mint) Rs 31,540 (Rs 31,775) Gold 00.8 (pure) Rs 31,675 (Rs 31,925)