Precious metals recover

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Mumbai, Oct 23 (UNI) Precious metals recovered slightly in the opening session as silver rose by Rs 50 per kg, from its previous close of Rs 18,220, and gold by Rs 5 per ten gm from its previous close of Rs 9,745 owing to better buying support, traders at the Bombay Bullion Association said.

Traders received reports from Tokyo market that Gold steadied on Tuesday after falling more than USD 10 an ounce the previous day, with the upside capped by weaker oil prices and worries about the strength of the global economy.

Cash gold traded at USD 755.60/756.40 an ounce as of 0041 GMT, slightly up from USD 752.90/753.70 in late New York.

Silver was at USD 13.47/13.50 an ounce, versus USD 13.43 /13.48 in New York.

Following are the opening rates of spot silver and gold: Silver (per kg).999 fineness grade: Rs 18,270, Gold (per 10 gm): Gold 99.5 purity standard mint : Rs 9,750, Gold 99.9 purity pure Gold Rs 9,795.


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