Precious metals resume low in openning session

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Mumbai, May 12: Both precious metals resumed low in the opening session today with silver falling by Rs 35 per kg and gold by Rs 15 per ten gm on lack of local industrial demand despite bullish trend in the global market, traders at the Bombay Bullion Association (BBA) said.

In the international market, however, gold and silver firmed up on weak dollar and high crude oil prices. Spot gold traded at USD 889.00/890.25 an ounce compared with USD 886.30/888.30 and silver was at USD 16.91/16.96 an ounce against USD 16.82/16.88 in New York on Friday, a Tokyo market report said.

Following were the opening rates of spot silver and gold in the bullion market here today: Silver (per kg) 999 fineness grade: Rs 23,350 Gold (per 10 gm): 99.5 purity standard mint: Rs 11,905 99.9 purity pure gold: Rs 11,960


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