Precious metals open high on Bullish advice

Mumbai, Oct 7: Values of precious metals on Tuesday, Oct 7 surged in the opening session with silver rising by Rs 25 per kg to Rs 19,560 and gold by Rs 200 per ten gm to Rs 13,330 from their previous finish on sustained demand from industrial users, traders in the Bombay Bullion Association said.

Similarly, in the international market too, a positive sentiment was observed as gold was quoted at USD 871.00/871.50 per ounce (USD 863.00/863.50), while silver was at USD 11.50/11.51 an ounce (USD 11.40/11.41). Precious metals advanced on Tuesday, Oct 7, as investors sought havens after the stock markets dropped on growing fears for the global economy, a Singapore market report said. Following were the opening domestic spot rates: Silver (per kg) 999 fineness grade: Rs 19,560 Gold (per 10 gm): 99.5 purity standard mint: Rs 13,330 99.9 purity pure gold: Rs 13,385.

UNI