Oct 23 (UNI) The precious metals today crashed heavily with Gold tumbling to a five week low to close at Rs 11,640 per ten gm with a huge loss of Rs 515 even as Silver slumped by Rs 445 per kg on discouraging global advice, traders at the Bombay Bullion Association said.
Standard and pure gold opened low below 12k to Rs 11,895 and Rs 11,965 per ten gm respectively, on lack of fresh demand by jewellery makers.
Both the prices of standard and pure gold dipped by Rs 515 and Rs 525 per ten gm respectively from their last close on persistent offloading by stockists induced by bearish advice from global markets.
The white metal opened low at Rs 17,870 per kg on sustained heavy selling pressure from local dealers.
Finally, it finished at Rs 17,535 with a huge loss of Rs 445 from its last finish amid lack of buying enquiries and weak global advice.
In Asian markets, Gold and Silver prices were quoted low at USD 724.50 to 725.25 per troy ounce and USD 9.54 to 9.55 per troy ounce respectively from their previous finish.
Following are the spot silver and gold closing prices: Silver (per kg) .999 grade: Rs 17,535 (17,980) Gold (per 10 gm): Standard mint 99.5 purity: Rs 11,640 (12,155) Pure gold 99.9 purity: Rs 11,705 (12,230)
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