Precious metals rise in opening session

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Mumbai, May 16: The precious metals opened high today, with silver moving up by Rs 270 per kg and Gold by Rs 235 per ten gm from their previous finish, on brisk buying support from local dealers traders at the Bombay Bullion Association (BBA) said. In the international market, mixed trend was observed as Gold edged down taking a cue from oil's consolidation, which hit a record high earlier this week, while the dollar fell slightly against the yen, after Japan's growth data came stronger than expected.

However, Silver went up. Spot gold was at USD 880.55/881.50 an ounce less compared with USD 881.55/882.75 in late New York trade yesterday.
Silver was at USD 16.75/16.80 an ounce, against USD 16.70/16.76 in New York. Following were the opening rates of spot silver and gold in the bullion market here today: Silver (per kg) 999 fineness grade: Rs 23,740 Gold (per 10 gm): 99.5 purity standard mint: Rs 12,150 99.9 purity pure gold: Rs 12,200


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