Gold tumbles Rs 475 amid weak global trends

New Delhi, Feb 15 (PTI) Gold price tumbled Rs 475 to Rs 56,345 per 10 gram in the national capital on Wednesday amid a decline in rate of the precious metal globally, according to HDFC Securities.

The yellow metal had ended at Rs 56,820 per 10 gram in the previous trade.

Silver also fell by Rs 195 to Rs 65,925 per kilogram.

“Spot gold prices in the Delhi markets traded at Rs 56,345 per 10 gram, down Rs 475 per 10 gram,” said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.

In the overseas market, both gold and silver were quoting lower at USD 1,834 per ounce and USD 21.58 per ounce, respectively.

Comex gold prices edged lower in Asian trading hours on Wednesday. Their downside extended post the US CPI inflation data, Gandhi said.