Mumbai, Dec 1: The precious metals lost ground today with Silver down by Rs 115 per kg and Gold by Rs 175 per ten gm on selling pressure by stockists in view of discouraging advice from global markets, traders at the Bombay Bullion Association said.
Silver opened weak at Rs 17,305 per kg on lower buying support by industrial users and later again eased by Rs 115 per kg to end in red at Rs 17,260 from its last close on sustained heavy offers by stockists, induced by subdued advice from global markets.
Similarly, standard and pure gold opened low at Rs 13,125 and Rs 13,185 per ten gm respectively, amid thin demand by local dealers. Both the prices ended weaker at Rs 13,010 and 13,070 per ten gm respectively on selling pressure from stockists in view of bearish advice from global markets, traders informed.
The Yellow metal was quoted low at USD 792.50/793.25 per troy ounce and Silver moved down at 9.92 /9.95 per troy ounce from their previous level in global markets, which led to downward trend in the domestic prices, brokers added.
Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 17,260 (17,375) Gold (per 10 gm): Standard mint 99.5 purity: Rs 13,010 (13,185) Pure gold 99.9 purity: Rs 13,070 (13,240)
--- UNI
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