Precious metals rise further on Bullish advice

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Mumbai, Feb 22: Precious metals rose further on the third consecutive day today with silver and gold opening at Rs 22,610 per kg and Rs 12,290 per ten gm respectively on fresh buying support, traders at the Bombay Bullion Association said.

Though in the domestic market precious metals soared, in the international market a reverse trend was observed because of sharp decline in crude oil. A report from Singapore market said that gold fell to USD 942.25/943.25 an ounce from USD 944.40/945.20 an ounce late in New York. Silver edged down to USD 17.76/17.81 an ounce from USD 17.84/17.89 an ounce -- off Thursday's 27-year high of USD 18.03 an ounce.

Following were the opening rates of spot silver and gold in the Bombay Bullion market today: Silver (per kg) 999 fineness grade : Rs 22,610 Gold (per 10 gm) Gold 99.5 purity standard mint : Rs 12,235 Gold 99.9 purity pure gold : Rs 12,290.


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