Precious metals opens low

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Mumbai, Oct 8 (UNI) Both the precious metals today resumed low as Silver slashed by Rs 60 per kg and gold by 25 per ten gm on lack of poor demand from ornament makers in view of bearish global advice, traders at the Bombay Bullion Association said.

Traders received a report from global market as Gold was flat on Monday, with trade thin due to holidays in Japan and the United States, and on caution ahead of US Federal Reserve minutes that could give clues on interest rates.

Cash gold was at USD 741.00/741.75, down a touch from USD 741.10/741.90 in New York on Friday. Gold had rallied to a 28-year high of USD 747.65 last Monday before a rebound in the Dollar sparked selling from investors.

Cash silver was at USD 13.41/13.44 an ounce, versus USD 13.38/13.43 on the previous day, traders added.

Following are the opening rates of spot silver and gold: Silver (per kg).999 fineness grade: Rs 17,995, Gold (per 10 gm): Gold 99.5 purity standard mint : Rs 9,480 Gold 99.9 purity pure Gold : Rs 9,530 UNI

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