Precious metals tumble on Bullish advice

Mumbai, Feb 13: Precious metals fell on lack of demand today with silver easing by Rs 215 per kg and gold by Rs 225 per ten gm in the opening session, traders at the Bombay Bullion Association said.

Though precious metals declined sharply in domestic market, in Singapore a mixed trend was observed. Gold dipped to USD 906.00/906.70 an ounce from USD 907.70/908.50 in New York on low demand from main consumer, India. Silver edged up to USD 17.16/17.21 an ounce from USD 17.13/17.18 an ounce in New York.

Following were the opening rates of spot silver and gold in the Bombay Bullion market today: Silver (per kg) 999 fineness grade : Rs 21,555 Gold (per 10 gm) Gold 99.5 purity standard mint : Rs 11,610 Gold 99.9 purity pure gold : Rs 11,660.

UNI