Silver opens below Rs 25,000 barrier

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Mumbai, May 28: Values of spot silver today quoted below Rs 25,000 barrier by opening at Rs 24,335 per kg while pure gold resumed negative at Rs 12,655 per ten gm on sustained heavy offers by stockists in view of bearish advises from global markets, traders at the Bombay Bullion Association (BBA) said.

Both precious metals as silver (999 finesses grade) today's major crashed by Rs 600 per kg, while standard mint gold and pure gold plummeted by Rs 240 per ten gm each from their last finish on sluggish demand from local jewellery makers.

In London and Asian markets, gold was quoted low in a range of USD 909.50/910.10 per troy ounce against 925.30/927.50 on previous day and silver touched a low at USD 17.54/17.56 per troy ounce compared to 18.27/18.31 per troy ounce from their last finish, which affected to downward trend at the domestic prices, traders added.

Following were the opening spot rates: Silver (per kg) 999 fineness grade: Rs 24,335 Gold (per 10 gm): 99.5 purity standard mint: Rs 12,595 99.9 purity pure gold: Rs 12,655.


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