Silver, Gold down on bullish advice

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Mumbai, Nov 30: Spot Silver and Gold today tumbled in the opening session with silver falling by Rs 250 per kg and Gold losing its shine by Rs 135 per ten gm due to lack of demand, traders at the Bombay Bullion Association said.

Reports from Tokyo market said that Gold edged up today but held below USD 800 an ounce, carrying over a bearish tone from the previous day amid the Dollar's recovery against the Euro and falls in oil prices from recent highs.

Spot Gold was trading at USD 796.10/796.90 as of 0037 GMT, higher from USD 795.00/795.80 late in New York.

Tokyo traders said, however, technical trend turned slightly weak after bullion dropped more than 5 per cent from a high of USD 836.70 reached on Monday.

Silver edged down to USD 14.19/14.24 an ounce from USD 14.23/14.28 late in New York.

Following are the opening rates of spot Silver and Gold: Silver (per kg).999 fineness grade: Rs 19,180, Gold (per 10 gm): Gold 99.5 purity standard mint Rs 10,255, Gold 99.9 purity pure Gold Rs 10,305.


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