Precious metals fall on bullish advice

Mumbai, Jul 7: Both precious metals resumed low today with silver declining by Rs 185 per kg and opening at Rs 24,880 while gold shed Rs 125 per ten gm to opened at Rs 12,875 on lack of fresh demand from ornament makers, traders at the Bombay Bullion Association said.

In London, a mixed trend was observed with gold dropping but silver rising. Gold dipped today as US dollar strengthened and oil prices retreated. Gold slipped to USD 929.70/930.70 an ounce from USD 932.00/933.00 an ounce while silver edged up to USD 18.06/18.12 an ounce from USD 18.02/18.12 late in London.

Following were the opening domestic spot rates: Silver (per kg) 999 fineness grade: Rs 24,880 Gold (per 10 gm): 99.5 purity standard mint: Rs 12,875 99.9 purity pure gold: Rs 12,930.

UNI