Gold declines Rs 430; silver plunges Rs 620

New Delhi, Jun 14 (PTI) Gold prices declined Rs 430 to Rs 60,250 per 10 grams in the national capital on Wednesday amid weak trends in overseas markets, according to HDFC Securities.

The precious metal had settled at Rs 60,680 per 10 grams in the previous trade.

Silver also plunged Rs 620 to Rs 73,500 per kg.

“Gold prices edged lower on Wednesday, with spot gold prices in the Delhi markets traded at Rs 60,250/10 grams, down Rs 430 per 10 grams,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.

In the international markets, both gold and silver were quoting lower at USD 1,950 per ounce and USD 23.85 per ounce, respectively.

Gold prices came under pressure after a rally in US Treasury yields and waning expectations that the Federal Reserve will reverse its aggressive monetary-tightening policy this year, Gandhi said.