Precious metals decline despite bullish trend in Asian market

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Mumbai, Jan 4 (UNI) Silver, after reaching a four-month peak yesterday, eased today along with gold in the opening session with the white metal dipping by Rs 70 per kg and the yellow metal dropping by Rs 40 per ten gm despite a bullish trend in the Asian market.

The precious metals declined here owing to sluggish demand from local ornament dealers.

Meanwhile, according to reports from Tokyo, gold advanced and closed at a record high today, supported by high energy prices and a weak dollar, while platinum jumped to a record high of USD 1,553 an ounce but its gains were capped by falls in Japanese futures prices.

Spot gold was trading at USD 865.90/866.70 an ounce, up from USD 862.90/863.60 late in New York yesterday when it hit a record high of USD 869.05 earlier in the session.

Silver edged higher to USD 15.38/15.43 an ounce from USD 15.35/15.40 late in New York.

Following are the opening rates of spot silver and gold: Silver (per kg) 999 fineness grade : Rs 19,975 Gold (per 10 gm) Gold 99.5 purity standard mint : Rs 10,995 Gold 99.9 purity pure gold : Rs 11,045 UNI NV MAZ SM1341

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