Gold, silver ease further

Mumbai, Oct 22 (UNI) Spot gold and silver eased further today in the opening session as silver edged down by Rs 85 per kg from its previous close of Rs 18,340 and gold by Rs 30 per ten gm from its previous close of Rs 9,865 because of lack of fresh demand, traders at the Bombay Bullion Association said.

Traders received reports from Tokyo market that gold on Monday hovered below a 28-year high marked last week, supported by safe-haven buying after a sell-off in global stock markets, while Tokyo gold futures sold on a rally in the Yen versus the Dollar.

Cash gold traded at USD 763.00/763.80 an ounce as of 0052 GMT, compared with USD 765.30/766.10 in late New York on Friday. Last week it hit a 28-year high of USD770.

Silver was at USD 13.45/13.48 an ounce, versus USD 13.52/13.57 on Friday.

Following are the opening rates of spot silver and gold: Silver (per kg).999 fineness grade: Rs 18,255, Gold (per 10 gm): Gold 99.5 purity standard mint : Rs 9,835, Gold 99.9 purity pure Gold Rs 9,885.

UNI