Tags:
Journalism of Courage
MUMBAI, July 8: After gold now it8217;s the turn of silver. Silver prices nosedived by Rs 275 to close at a two-year low level of Rs 6130 per kg on the bullion market here on sustained selling pressure today following the steep fall in the London market.
Continuing the downward slide, gold prices fell by Rs 5 to close at Rs 4330 against yesterday8217;s close of Rs 4335.
Silver ready of.999 fineness opened distinctly weak at Rs 6180 per kilo and later, closed at Rs 6130. In the London market, the white metal was fixed at 425.00 cents per troy ounce against the last close of 447.35 cents, showing a sharp fall of 22.35 cents.
Raw silver of.916 fineness and tenderable silver also declined by Rs 275 and ended at at Rs 6030 and Rs 6135 respectively from their previous close of Rs 6305 and Rs 6410. 22-carat gold was nominally quoted weak at Rs 4005 from Rs 4010, while 10 tola gold bar of .999 purity lost Rs 50 at Rs 50,650.
According to Mahavir Lodha of the Bombay Wholesale Gold Jewellers Association, the market has suffered due to downtrend in London Metal Exchange.
