Precious metals fall: Bombay Bullion Association

Mumbai, Jun 11: The value of silver and gold fell on the second consecutive day today as silver edged down by Rs 450 per kg and gold by Rs 210 per ten gm, in the opening session owing to sluggish demand by ornament makers, traders at the Bombay Bullion Association said here.

Silver (999 finesses grade) opened at Rs 23,830 per kg while standard mint gold and pure gold opened at Rs 12,110 and Rs 12,170 per ten gm respectively. In international market gold was on the defensive today after falls in oil prices and the strength of the Dollar hammered down the metal the previous day.

As gold was trading at USD 867.20/868.20 an ounce, up from USD 866.60/868.00 in late New York yesterday when it fell as far as USD 864.15 -- the lowest since May 15, Tokyo report said.

In London gold was recorded low at USD 874.00/875.00 an ounce from USD 884.00/885.00 while silver eased to USD 16.62/16.63 an ounce from USD 17.15/17.16.

Following were the opening spot rates: Silver (per kg) 999 fineness grade: Rs 23,830 Gold (per 10 gm): 99.5 purity standard mint: Rs 12,110 99.9 purity pure gold: Rs 12,170

UNI