Gold jumps Rs 110; silver tumbles Rs 500

New Delhi: Gold price jumped Rs110 to Rs66,250 per 10 grams in the national capital on Tuesday in line with firm trends in the global markets, according to HDFC Securities. The precious metal had closed at Rs66,140 per 10 grams in the previous trade. However, silver tumbled Rs500 to Rs76,500 per kg. In the previous trade, it had ended at Rs77,000 per kg. “Spot gold prices (24 carats) in the Delhi markets are trading at Rs66,250 per 10 grams, up Rs110 from the previous close,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at $2,159 per ounce, up $3 against the previous close. Gold prices traded in a narrow range before the outcome of the most crucial US Federal Reserve monetary policy meeting, which is due on Wednesday. The meeting may provide hints regarding when interest rate cuts this year are likely to occur, Gandhi added. However, silver was trading lower at $24.91 per ounce. It had settled at $25.11 per ounce in the previous close.