Mumbai: After Wednesday's bullish trend in bullion prices, values of spot gold and silver crashed again on Thursday due to weak global advice.
Standard gold (99.5 purity) and pure gold (99.9 purity) opened low this morning at Rs 9,595 and Rs 9,645 per 10 gm, respectively, on poor demand by local dealers.
Both the yellow metals improved and closed high at Rs 9,365 and Rs 9,660 per 10 gm, with a huge gain of Rs 240 each from their yesterday's close.
There were low demand by stockists due to bearish advice from international markets.
In London, gold was quoted low at USD 635.50/640.00 per troy ounce against the previous close of USD 660/662 per troy ounce in New York on Wednesday.
Reports from abroad says that gold steadied on Thursday after a sharp fall in U S trade, although traders were wary of another test lower, while a price dip in platinum attracted some buying by jewellers in China.
Silver .999 fineness variety also opened high at Rs 19,115 per kg on weak advice. Later, it improved and closed at Rs 19,365 per kg with a massive loss of Rs 325 from its previous close.
In London, the white metal was quoted low at US dollar 12.40/12.45 per troy ounce against USD 12.60/12.70 per troy ounce in New York on yesterday, which remained weak in the domestic prices, traders added.
Following were the spot silver and gold closing prices today: Silver (per kg) .999 grade: Rs 19,365 (Rs 19,690), Gold (per 10 gm): Standard mint 99.5 purity: Rs 9,610 (Rs 9,850), Pure gold 99.9 purity: Rs 9,660 (Rs 9,900).
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