Gold opens weak on bullish advice

Mumbai, Nov 24: Gold resumed weak in the opening session on Monday, Nov 24 at Rs 12,870, down by Rs 125 per ten gm, on poor buying support, traders in the Bombay Bullion Association said.

While, silver rose by Rs 65 per kg at Rs 16,840 from its last close on sustained demand from jewellery makers, they said. In the Asian markets, a reverse trend was seen as gold was quoted high at USD 789.00/789.50 (757.00/757.25) per troy ounce, while silver was low at USD 09.51/09.52 (09.53/09.54) per troy ounce. The yellow metal spurted in the international market today because of a weak dollar against Euro and firm oil price, a marekt report said.

Following were the spot silver and gold opening prices: Silver (per kg) .999 grade: Rs 16,840 Gold (per 10 gm): Standard mint 99.5 purity: Rs 12,870 Pure gold 99.9 purity: Rs 12,945.

UNI