Gold, silver open at a five month high

Mumbai, Sep 21: Spot gold and silver today opened at a five months high at Rs 18,135 per kg and Rs 9565 per ten gm respectively on lack of offers by stockists in view of bullish advice from global markets, traders at the Bombay Bullion Association said.

White metal shot up by Rs 300 while standard mint gold and pure gold also hiked sharply by Rs 90 per ten gm each from their last close. There was little ornament makers demand because of forthcoming Dussera festival, traders said.

According to reports from Tokyo, Spot gold held on to gains on Friday after surging to a 28-year high the previous day, as the dollar hung near a record low against the euro and crude oil prices remained strong.

Spot gold stood at USD 734.50/735.00 an ounce compared with USD 734.20/735.00 in late New York. Spot silver inched up to USD 13.41/13.46 an ounce from $13.36/13.41 in New York, that helped to boost the domestic prices, traders added.

Following are the opening rates of spot silver and gold: Silver (per kg).999 fineness grade: Rs 18,135, Gold (per 10 gm): Gold 99.5 purity standard mint : Rs 9,515, Gold 99.9 purity pure Gold : Rs 9,565.

UNI