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Silver, Gold slump

Posted on Dec 22, 11:46AM | UNI

The precious metals were heavily down at the domestic bullion market today with Silver sliding by Rs 1,765 per kg to Rs 57,830 and Gold dropped by Rs 230 per ten gm to Rs 30,365 on lack of buying enquiries from industrial users along with weak trend in Asian Markets, traders at the Bombay Bullion Association (BBA) said.

In the opening trade, Silver fell by Rs 1,735, per kg and later it lost ground by Rs 1,765 per kg to Rs 57,830 as compared to its previous close.

Gold dropped by Rs 290 per ten gm in the opening session, finally standard and pure gold dipped by Rs 230 and Rs 240 per ten gm respectively.

Standard and pure gold finished in red at Rs 30,365 and Rs 30,495 per ten gm respectively.

In Asian Markets, Silver was at 30.96 per ounce and Gold was at 16.31 per ounce.

Following are the closing rates of Silver and Gold Silver (per kg) Rs 57,830 (Rs 59,595) Standard gold Rs 30,365 (Rs 30,595) Pure gold Rs 30,495 (Rs 30,735) (per 10 gm)