Silver, gold rates dip: Bombay Bullion Association

Mumbai, Aug 25: Both the precious metals opened low on Monday, Aug 25 with silver easing by Rs 290 per kg to Rs 20,845 and gold by Rs 80 per ten gm to Rs 11,730, from their lost close on sustained heavy selling pressure by industrial users in view of bearish global trends, traders at the Bombay Bullion Association said.

In the international market too, a negative sentiment was registerd as gold fell to USD 821.05/823.05 an ounce from USD 827.00/828.60 an ounce, while silver eased to USD 13.26/13.32 an ounce from USD 13.33/13.41 an ounce late in New York.

The precious metals paled as the US dollar rose against other currencies, while a weaker oil also prompted investors to ditch their bullion holdings.

Following were the opening domestic spot rates: Silver (per kg) 999 fineness grade: Rs 20,845 Gold (per 10 gm): 99.5 purity standard mint: Rs 11,730 99.9 purity pure gold: Rs 11,795.

UNI