Precious metals witness mixed trends

Mumbai, Oct 18: A mixed trend was witnessed in the opening session of precious metals, as Silver inched up by Rs 60 per kg from its previous close of Rs 18,355 owing to fresh demand while Gold slightly was down by Rs 15 per ten gm from its previous close of Rs 9,750, traders at the Bombay Bullion Association said.

Traders received reports from Tokyo market that Gold inched up on Thursday after slipping from a near 28-year high on the previous day as investment funds were sold to adjust their overbought positions following rallies in the last few weeks.

COMEX gold futures were up in Asia, with the December contract trading up USD 0.5 or 0.07 per cent at USD 762.8 from the New York settlement on Wednesday.

Silver fell to USD 13.64/13.67 an ounce from USD 13.58/13.63 late in New York.

Following are the opening rates of spot silver and gold: Silver (per kg).999 fineness grade: Rs 18,415, Gold (per 10 gm): Gold 99.5 purity standard mint : Rs 9,735, Gold 99.9 purity pure Gold Rs 9,785.

UNI