Silver, gold eases in opening session

Mumbai, Oct 3: Value of silver crashed by Rs 1,055 per kg in the opening session on Friday, Oct 3, following sustained heavy selling pressure from industrial users, while gold lost its shine by Rs 295 per ten gm, on weak global advice, traders in the Bombay Bullion Association said.

In the international market too, a southward movement was witnessed as gold was recorded at USD 838.00/838.50 per ounce (USD 872.00/872.50), while silver was at USD 11.20/11.21 an ounce (USD 12.50/12.52). The downward march in both the precious metals occurred due to rising US dollar, Singapore market report said.

Following were the opening domestic spot rates: Silver (per kg) 999 fineness grade: Rs 19,570 Gold (per 10 gm): 99.5 purity standard mint: Rs 12,860 99.9 purity pure gold: Rs 12,920.

UNI