Precious metals rise: BBA

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Mumbai, May 8: Both precious metals rose in the opening session with silver rising by Rs 10 per kg and gold by Rs 55 per ten gm from their previous finish amid brisk buying support by stockists despite weak global cues, traders at the Bombay Bullion Association (BBA) said.

In the international market, however, both silver and gold fell owing to a rise in the US dollar. But, record high crude oil above USD 123 a barrel was expected to cushion the fall. Gold fell to USD 867.60/868.60 an ounce from USD 870.85/872.05 an ounce late in New York yesterday while silver edged down to USD 16.58/16.64 an ounce from USD 16.60/16.66 an ounce which did not reflect in the domestic market, traders pointed out.

Following were the opening rates of spot silver and gold in the bullion market here today: Silver (per kg) 999 fineness grade: Rs 23,030 Gold (per 10 gm): 99.5 purity standard mint: Rs 11,710 99.9 purity pure gold: Rs 11,770


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