Silver, gold dipped on bullish advice

Mumbai, Jul 24: Value of silver and gold further slashed on the bullion market today as silver down by Rs 225 per kg to open at Rs 24,790, while gold also dropped by Rs 215 per ten gm to open at Rs 12,580 on sustain heavy selling pressure by ornament makers along with discouraging advice, from its last close, traders at the Bombay Bullion Association said.

In international market also negative sentiment was observed as gold fell to USD 919.35/920.35 an ounce from USD 921.35/922.95 when it hit a low of USD 917.15 an ounce, its weakest since July 9.

Silver also edged down to USD 17.29/17.35 an ounce from USD 17.33/17.38 late in New York.

Dealers attributed the fall of precious metals to the decline of crude oil prices.

Following were the opening domestic spot rates: Silver (per kg) 999 fineness grade: Rs 24,790 Gold (per 10 gm): 99.5 purity standard mint: Rs 12,580 99.9 purity pure gold: Rs 12,640.

UNI