Silver, Gold open low on thin demand

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Mumbai, Nov 27: Precious metals today drifted lower in the opening session with Silver declining by Rs 75 per kg and Gold by Rs 20 per ten gm from their previous day's close on thin ornament makers demand in view of discouraging advice from global markets, traders at the Bombay Bullion Association said.

Reports from Asian markets stated, Gold was nearly unchanged on Tuesday as fall in oil and US share prices weighed on sentiment in precious metals, but Dollar's weakness continued to lend support.

Gold was at USD 824.50/825.30 an ounce, steady from USD 824.70/825.40 late in New York on Monday.

COMEX Gold futures fell in Asia after rising in New York the previous day. The most active December contract was trading down USD 1.8, or 0.2 per cent, at USD 824.7.

US Gold futures finished edged up in choppy, heavy trade on Monday after reaching a two-week high.

Silver fell to USD 14.71/14.76 an ounce from USD 14.77/14.82 late in New York, which affected the downward trend in domestic prices, traders added.

Following are the opening rates of spot Silver and Gold: Silver (per kg).999 fineness grade: Rs 19,690, Gold (per 10 gm): Gold 99.5 purity standard mint Rs 10,675, Gold 99.9 purity pure Gold Rs 10,725.


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