Precious metals inched up on bullish advice

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Mumbai, Oct 13: Precious metals today opened firm with Silver gaining by Rs 55 per kg and Gold by Rs 35 per ten gm due to better buying support, traders at the Bombay Bullion Association said.

Traders were received a reports from Tokyo market as Gold fell on Friday in a correction after hitting a 28-year high the previous day, while platinum fell from a record high, but underlying sentiment stayed bullish on strong oil and a weak dollar.

COMEX gold futures fell in Asia, with the most active December contract at USD 752.0 an ounce, down USD 4.7, or 0.6 percent, from the New York settlement.

Silver eased to USD 13.72/13.77 an ounce from USD 13.73/13.78 late in New York,which did not impact on domestic prices, traders added.

Following are the opening rates of spot silver and gold: Silver (per kg).999 fineness grade: Rs 18,335, Gold (per 10 gm): Gold 99.5 purity standard mint : Rs 9,575 Gold 99.9 purity pure Gold Rs 9,625.

UNI

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