Bullion prices in red
image for illustrative purpose
New Delhi: Gold prices plunged Rs400 to Rs62,850 per 10 grams in the national capital on Wednesday amid a decline in precious metal’s demand internationally, according to HDFC Securities.In the previous trade, the yellow metal had settled at Rs63,250 per 10 grams. HDFC Securities’ senior analyst (commodities) Saumil Gandhi said gold continued their downward movement on Wednesday in the Delhi markets trading at Rs62,850/10 grams, down by Rs400, following a bearish trend in the overseas markets.
Silver also tumbled Rs400 to Rs78,100 per kilogram. In the global markets, gold and silver were down at $2,029 per ounce and $24.26 per ounce, respectively. Spot gold at Comex was trading at $2,029 per ounce, down by $8 from its previous close. Gold prices extended falls in Wednesday’s session due to weak demand and an uptick in the US dollar, Gandhi said.
