Silver, gold decline: Bombay Bullion Assn

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Mumbai, Sep 26: Spot silver and gold today opened lower at Rs 18,120 per kg and Rs 9,440 per ten gm respectively on poor demand, traders at the Bombay Bullion Association said.

White metal fell by Rs 95 and standard gold dropped by Rs 60 per ten gm from their last close. Pure gold also declined by Rs 50 per ten gm from it's last close, traders said.

According to reports from Tokyo, gold firmed on Wednesday as the US Dollar hit a record low against the Euro, while bargain hunters lifted the most active contract in Tokyo futures.

Spot gold rose to USD 732.10/732.90 an ounce from USD 730.40/731.20 late in New York on Tuesday, when it dropped more than USD 1 as speculators booked profits on last week's run to a 28-year high of USD 739 an ounce.

Following are the opening rates of spot silver and gold: Silver (per kg).999 fineness grade: Rs 18,120, Gold (per 10 gm): Gold 99.5 purity standard mint : Rs 9,440, Gold 99.9 purity pure Gold : Rs 9,490.


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