Gold plunges Rs 400; silver declines Rs 300

New Delhi, Nov 9 (PTI) Gold prices plunged Rs 400 to Rs 60,950 per 10 grams in the national capital on Thursday amid weak global cues, according to HDFC Securities.

In the previous trade, the precious metal had settled at Rs 61,350 per 10 grams.

“Gold extended their fall on Thursday, with spot gold prices in the Delhi markets trading at Rs 60,950/10 gram, down Rs 400 following bearish trade in the overseas markets,” HDFC Securities Senior Analyst of Commodities Saumil Gandhi said.

Silver also declined Rs 300 to Rs 73,300 per kilogram.

In the international markets, both gold and silver were trading lower at USD 1,950 per ounce and USD 22.45 per ounce, respectively.

Traders are now looking for more cues from US macro data and Federal Reserve Chair Jerome Powell’s speech at the International Monetary Fund (IMF) which is due later on Thursday, Gandhi said.