Silver flat, gold declines

Mumbai, Jun 9 (UNI) Silver remained flat while gold was declined by Rs 10 per ten gm today on poor buying support in the opening session, traders at the Bombay Bullion Association said here.

Silver (999 finesses grade) remained flat and opened on Rs 24,665 per kg while standard mint gold and pure gold opened at Rs 12,510 and Rs 12,570 respectively, fell by Rs 10 per ten gm each from their last close.

In the international market Gold rose as high as USD 904.10 an ounce, its highest since May 28, up from USD 896.80/898.20 late in New York on Friday while silver was down.

A weaker Dollar helped gold as it boosted the metal's appeal as an alternative investment to stocks and bonds, Singapore market report said.

Silver slightly dropped to USD 17.50/17.55 an ounce from USD 17.51/17.57.

Following were the opening spot rates: Silver (per kg) 999 fineness grade: Rs 24,665 Gold (per 10 gm): 99.5 purity standard mint: Rs 12,510 99.9 purity pure gold: Rs 12,570 UNI NV GR SM1339