Gold, silver prices tumble
image for illustrative purpose
New Delhi: The prices of gold tumbled Rs650 to Rs58,950 per 10 grams in the national capital on Thursday amid decline in the precious metal’s price in the overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had settled at Rs59,600 per 10 grams.
Silver also nosedived Rs1,000 to Rs73,100 per kg. “Comex gold hit a six-month low as an uptick in the US dollar and treasury yields weighed on the precious metal,” said Saumil Gandhi, senior analyst of commodities at HDFC Securities.
In the international markets, gold and silver were trading lower at $1,877 per ounce and $22.55 per ounce, respectively. “Market focus now turns to the revised US GDP growth rate for the second quarter and weekly jobless claims due later in the day,” said Navneet Damani, senior vice-president of commodity research at Motilal Oswal Financial Services.
