Bullion prices fall on global cues

New Delhi: Gold price tumbled Rs900 to Rs61,300 per 10 grams in the national capital on Monday amid weak cues in global markets, according to HDFC Securities. The precious metal had closed at Rs62,200 per 10 grams in the previous trade. Silver also declined Rs200 to Rs76,000 per kilogram. HDFC Securities’ senior analyst of commodities Saumil Gandhi said gold prices dropped to a three-week low in Monday’s session following an uptick in US Treasury yields and the dollar after the upbeat US jobs data. In the overseas market, gold was trading lower at $1,995 per ounce while silver was flat at $22.98 per ounce. Spot gold at Comex was trading at $1,995 per ounce, down by $10 from its previous close. Traders predict gold prices to remain bearish after a sharp reversal in their trend last week.