Gold slips Rs 50; silver tumbles Rs 500

New Delhi: Gold prices fell Rs50 to Rs62,800 per 10 grams in the national capital on Thursday, according to HDFC Securities. The precious metal had finished at Rs62,850 per 10 grams in the previous close. Silver also tumbled Rs500 to Rs75,200 per kilogram, while it had ended at Rs75,700 per kg in the previous trade.

“Spot gold prices (24 carats) in the Delhi markets are trading at Rs62,800 per 10 grams, down by Rs50 against the previous close,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said. In the international markets, spot gold at Comex was trading flat at $2,027 per ounce, unchanged from the previous close. However, silver was down at $23 per ounce. Following the release of the latest Federal Reserve’s meeting minutes, which indicated that the US Fed is willing to maintain interest rates higher for longer. Accordingly, the yellow metal prices slightly declined on Thursday, Gandhi added.