Though in the international market the precious metals surged, in domestic market it was slightly eased as silver edged by Rs 5 and gold by Rs 10 due to thin buying support, traders said. According to the Singapore market report, gold was firm today and held within sight of a historic high hit the previous day, reflecting investors' interest in the metal as the dollar dropped on the expectations of further US rate cuts.
Spot gold rose to USD 906.00/906.80 an ounce from USD 902.10/902.80 an ounce late in New York.
COMEX gold futures also hovered near a record high hit the previous day. The most active February contract gained USD 4.7 an ounce to USD 908.1 an ounce.
Silver rose to USD 16.41/16.46 an ounce from USD 16.31/16.36 late in New York, and off Monday's 27-year high of USD 16.58 an ounce.
Following are the opening rates of spot silver and gold in the Bombay Bullion market today: Silver (per kg) 999 fineness grade : Rs 20,845 Gold (per 10 gm) Gold 99.5 purity standard mint : Rs 11,565 Gold 99.9 purity pure gold : Rs 11,620.