Silver, gold open low: Bombay Bullion Assn

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Mumbai, May 30: Prices of spot silver and gold today resumed on a downward trend at Rs 23,450 per kg and gold at Rs 12,100 per ten gm respectively, on sustained heavy offers by stockists in view of bearish advises from global markets, traders at the Bombay Bullion Association (BBA) said.

Silver (999 finesses grade) crashed by Rs 690 per kg, while standard mint gold and pure gold declined by Rs 285 per ten gm each, from their last finish, on lack of fresh demand from local jewellery makers. In London and Asian markets, gold was quoted low in a range of USD 872.30/873.80 per troy ounce against 897.50/898.30 on previous day and silver touched a high at USD 16.48/14.52 per troy ounce compared to 17.40/17.42 per troy ounce from its last finish, which reflected to downward trend at the domestic prices, traders added.

Following were the opening spot rates: Silver (per kg) 999 fineness grade: Rs 23,450 Gold (per 10 gm): 99.5 purity standard mint: Rs 12,100 99.9 purity pure gold: Rs 12,160.


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