Gold slips Rs100; silver slumps Rs400

New Delhi: Gold slipped Rs100 to Rs62,700 per 10 grams in the national capital on Tuesday amid a fall in precious metal prices globally, according to HDFC Securities. The yellow metal had closed at Rs62,800 per 10 grams in the previous trade. Silver also slumped Rs400 to Rs75,600 per kilogram, while it had settled at Rs76,000 per kg in the previous close. “Spot gold prices (24 carats) in the Delhi markets are trading at Rs62,700 per 10 grams, down by Rs100, taking a negative trend from overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said. In the international markets, spot gold at Comex was trading at $2,018 per ounce, down by $2 from the previous close. Also, silver was down at $23.01 per ounce, while it had ended at $23.09 per ounce in the previous trade. Gold prices slightly declined on Tuesday as traders remained cautious before the release of the Federal Open Market Committee’s (FOMC) meeting minutes due on Wednesday, which will shape the expectations for the US Federal Reserve’s monetary policy interest rate outlook, Gandhi added.