Precious metals fall: BBA

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Mumbai, Jun 18: Both the precious metals fell today with silver declining by Rs 45 per kg, opened at Rs 24,315 and standard gold by Rs 15 per ten gm, opened at Rs 12,255 per ten gm, on sluggish demand from ornament makers from its last close, traders at the Bombay Bullion Association said here.

Though the precious metals observed negative trend in domestic market, but in international market, a mixed trend was witnessed as gold was dipped while silver was up. Gold fell to USD 882.85/883.85 an ounce from USD 884.20/885.40 late in New York yesterday, when the metal reversed early losses and firmed on a weaker dollar while silver edged up to USD 17.09/17.16 an ounce from USD 17.05/17.13 late in New York.

Gold slipped today as oil extended losses on expectations Saudi Arabia will soon boost output, Singapore market report said. Following were the opening spot rates: Silver (per kg) 999 fineness grade: Rs 24,315 Gold (per 10 gm): 99.5 purity standard mint: Rs 12,255 99.9 purity pure gold: Rs 12,315


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