Gold declines Rs 480; silver plunges Rs 530

New Delhi, May 18 (PTI) Gold prices softened by Rs 480 to Rs 60,070 per 10 grams in the national capital on Thursday amid a decline in international precious metal prices, according to HDFC Securities.

The yellow metal had finished at Rs 60,550 per 10 grams in the previous trade.

Silver also plunged by Rs 530 to Rs 72,750 per kilogramme.

“Spot gold prices in the Delhi markets traded at Rs 60,070 per 10 grams, down Rs 480 per 10 grams,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.

In the international market, both gold and silver were quoting lower at USD 1,975 per ounce and USD 23.60 per ounce, respectively.

Gold price traded down in Asian trading hours on Thursday as uptick in US dollar weighed on precious metal price, Gandhi said.