Gold declines Rs 150; silver plunges Rs 400
image for illustrative purpose
New Delhi: Gold prices declined Rs150 to Rs63,350 per 10 grams in the national capital on Monday amid weak global cues, according to HDFC Securities. In the previous trade, the precious metal had ended at Rs63,500 per 10 grams. Silver also plunged Rs400 to Rs75,500 per kilogram, while it had closed at Rs75,900 per kg in the previous trade. “Spot gold prices (24 carats) in the Delhi markets are trading at Rs63,350 per 10 grams, down by Rs150, taking bearish cues from the overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
In the international markets, spot gold at Comex was trading at $2,024 per ounce, down by $15 from the previous close. Also, silver was trading lower at $22.45 per ounce. Gold traded lower as the dollar and yields jumped after a strong US non-farm payrolls data which created some uncertainty about the US Federal Reserve's monetary policy path this year, Navneet Damani, Senior VP of Commodity Research at Motilal Oswal Financial Services, said.
