Gold, silver down on bullish advice

Mumbai, Sep 9: Values of standard mint gold and silver were down on Tuesday, Sep 9 by Rs 85 at Rs 11,660 per ten gm and Rs 610 at Rs 19,410 per kg respectively during the opening session on sluggish demand from ornament makers and discouraging advices from global and upcountry markets, traders at the Bombay Bullion Association said.

Traders received a report from Singapore on Tuesday, Sep 9 that gold slipped after the dollar struck a one-year high against a basket of other currencies, prompting speculators to ditch their holdings and shift some of their money back to currencies. Gold fell 0.2 per cent to dollar 800.50/801.40 an ounce from US dollar 802.25/803.60 an ounce late in New York on Monday, Sep 8 having hit an intraday low of dollar 797.45 an ounce. While white metal was quoted low at dollar 11.80/11.85 an ounce from its previous day, which affected to downward trend at the domestic prices.

Following were the opening domestic spot rates: Silver (per kg) 999 fineness grade: Rs 19,610 Gold (per 10 gm): 99.5 purity standard mint: Rs 11,660 99.9 purity pure gold: Rs 11,720,

UNI