Gold slumps Rs 150; silver plunges Rs 750
image for illustrative purpose
New Delhi: Extending the losses for the second straight session, gold prices on Tuesday slumped Rs150 to Rs72,600 per 10 grams in the national capital amid fall in precious metal rates in the global markets, according to HDFC Securities.
The yellow metal had closed at Rs72,750 per 10 grams in the previous session. Silver prices also plunged Rs750 to Rs83,750 per kg. In the previous close, it had ended at Rs84,500 per kg. “Spot gold prices (24 carats) in the Delhi markets are trading at Rs72,600 per 10 grams, down Rs150 taking bearish cues from overseas markets,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
In the international markets, spot gold at Comex was trading at $2,320 per ounce, down $13 from the previous close. “Gold prices continued to weaken... as this sell-off was attributed to the anticipation of a hawkish stance from the US Federal Reserve in the upcoming interest rate policy announcement scheduled for May 1.
