Silver, Gold open low on bullish advice

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Mumbai, Jul 30: Both the precious metals opened low today, with silver easing by Rs 230 per kg and gold by Rs 195 per ten gm, from their yesterday's close, on sustained heavy selling pressure in view of weak global advices, traders at the Bombay Bullion Association said.

Silver opened at Rs 24,735 per kg and gold at Rs 12,605 per ten gm. In the international markets too, a downward trend was witnessed as gold fell to USD 916.80/918.75 an ounce from USD 918.80/920.30 an ounce, while silver edged down to USD 17.30/17.40 an ounce from USD 17.32/17.38 late in New York.

Both the precious metals lost its shine as a drop in oil prices and a firmer US dollar, traders informed.

Following were the opening domestic spot rates: Silver (per kg) 999 fineness grade: Rs 24,735 Gold (per 10 gm): 99.5 purity standard mint: Rs 12,605 99.9 purity pure gold: Rs 12,665.


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