Precious Metals Close Week On Negative Note

Precious Metals Close Week On Negative NoteSnapping the gaining streak, the costly metals turned down on Saturday, as Silver decreased by Rs 115 per kg and Gold fell by Rs 50 per ten gm, due to lack of fresh demand from stockists together with bearish worldwide advices, traders at the Bombay Bullion Association (BBA) said.

Silver .999 finessess variety sank Rs 105 per kg to Rs 27,985 per kg on lower demand from local traders. Afterward, it slipped further to close in the negative terrain at Rs 27,975, down by Rs 115 per kg from its last closure, on continual offloading by shareholders. Standard and pure gold belled the day in the negative at Rs 16,595 and Rs 16,685 respectively, down by Rs 55 per ten gm each. Afterward, they diminished further by Rs 50 per ten gm each to end at Rs 16,600 for standard gold and Rs 16,690 for pure gold.

In the worldwide markets also, the costly metals came down, as Gold declined to $1,140.02/1,140.04 per troy ounce and Silver dropped to $17.94/17.96 per troy ounce from their previous day levels.

Following were the concluding rates of spot silver and gold: Silver (per kg).999 grade: Rs 27,975 (28,090) Gold (per 10 gm): Gold 99.5 purity Standard mint: Rs 16,600 (16,650) Gold 99.9 purity Pure gold: Rs 16,690
(16,740) (With Inputs from Agencies)