Precious metals move up on bullish advice

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Mumbai, Dec 5: The spot Silver and Gold today edged up further by Rs 310 per kg and Rs 165 per ten gm respectively from their last close on better buying support, traders at the Bombay Bullion Association (BBA) said.

Reports from the Singapore market said that Gold was steady above USD 800 an ounce today on the back of a struggling US Dollar, while platinum hit a one-week high following a strike by miners in South Africa-- the world's main producer.

Spot Gold was at USD 803.10/803.90 an ounce, hardly changed from USD 803.80/804.50 late in New York yesterday, when it gained more than one per cent and recaptured the USD 800 level on expectations of a rate cut by the US Federal Reserve.

Silver rose to USD 14.37/14.42 an ounce from USD 14.30/14.35 late in New York.

Following are the opening rates of spot Silver and Gold: Silver (per kg).999 fineness grade: Rs 19,130, Gold (per 10 gm): Gold 99.5 purity standard mint Rs 10,295, Gold 99.9 purity pure Gold Rs 10,345.


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