Global cues take sheen of precious metals

New Delhi: Gold price fell by Rs50 to Rs59,600 per 10 grams in the national capital on Thursday amid fall in precious metal prices in overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had finished at Rs59,650 per 10 grams.

Silver also tumbled Rs400 to Rs73,000 per kg. In the international markets, both gold and silver were quoting lower at $1,906 per ounce and $22.55 per ounce, respectively. “The Comex gold price dropped to a fresh three-week low as fresh US inflation data indicated the Federal Reserve may implement further monetary tightening this year,” said Saumil Gandhi, senior analyst (commodities) at HDFC Securities.