Precious metals open low on Aug 29

Mumbai, Aug 29: Both the precious metals declined on Friday, Aug 29 with silver easing by Rs 120 per kg to open at Rs 21,160, while gold by Rs 30 per ten gm to open at Rs 11,905, from their last finish, on lack of fresh demand from industrial users, traders at the Bombay Bullion Association said.

In the international market a mixed trend was seen as gold traded at USD 831.15/832.15 an ounce, barely changed from USD 831.45/832.65 an ounce, while silver eased to USD 13.57/13.63 an ounce from USD 13.64/13.70 an ounce late in New York. Gold slightly changed as investors were closely watching movements in the dollar for direction. US crude oil futures rose to USD 116 a barrel, Singapore market report said. Following were the opening domestic spot rates: Silver (per kg) 999 fineness grade: Rs 21,160 Gold (per 10 gm): 99.5 purity standard mint: Rs 11,905 99.9 purity pure gold: Rs 11,970.

UNI