Silver, Gold inch up: Bombay Bullion Assn

Mumbai, Dec 3: Precious metals edged up in the opening session today with Silver rising by Rs 20 per kg and Gold by Rs 30 per ten gm due to better buying support, traders at the Bombay Bullion Association said.

Reports from Tokyo market said, Gold rose today, paring losses in the previous session when it touched a 10-day low on fund profit-taking for the month and year-end, but fundamentals stayed weak giving an improving outlook in the Dollar.

Spot Gold rose to USD 786.20/786.80 an ounce as of 0053 GMT, from USD 783.50/784.20 in New York on Friday.

It hit a low of USD 778.70 on Friday in a correction for a recent rally to a 28-year high of USD 845.40 on November 7, 2007.

Silver edged up to USD 14.02/14.07 an ounce from USD 13.96/14.01 in New York.

Following are the opening rates of spot Silver and Gold: Silver (per kg).999 fineness grade: Rs 18,770, Gold (per 10 gm): Gold 99.5 purity standard mint Rs 10,125, Gold 99.9 purity pure Gold Rs 10,175.

UNI