Silver, gold open high from its previous close

Mumbai, Oct 20: Silver and gold opened high at Rs 18,160 per kg and Rs 12,770 per ten gm respectively, with the white metal gaining by Rs 185 per kg and yellow metal by Rs 185 per ten gm, from its previous close, on fresh festival seasonal demand by ornament makers coupled with bullish advice from global markets, traders in the Bombay Bullion Association said.

Traders received positive reports from Asian markets as gold gained more than one percent today, recovering from a tow per cent fall in New York, after oil extended gains on expectations of an output cut by OPEC and the dollar turned lower against the euro. Gold and Silver traded at USD 794.05 an ounce and USD 8.15/8.25 per troy ounce in New York.

Following were the opening domestic spot rates: Silver (per kg) 999 fineness grade: Rs 18,160 Gold (per 10 gm): 99.5 purity standard mint: Rs 12,770 99.9 purity pure gold: Rs 12,830.

UNI