Gold slips Rs 50; silver tumbles Rs 500

New Delhi, Feb 22 (PTI) Gold prices fell Rs 50 to Rs 62,800 per 10 grams in the national capital on Thursday, according to HDFC Securities.

The precious metal had finished at Rs 62,850 per 10 grams in the previous close.

Silver also tumbled Rs 500 to Rs 75,200 per kilogram, while it had ended at Rs 75,700 per kg in the previous trade.

“Spot gold prices (24 carats) in the Delhi markets are trading at Rs 62,800 per 10 grams, down by Rs 50 against the previous close,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold at Comex was trading flat at USD 2,027 per ounce, unchanged from the previous close.

However, silver was down at USD 23 per ounce.

Following the release of the latest Federal Reserve’s meeting minutes, which indicated that the US Fed is willing to maintain interest rates higher for longer.

Accordingly, the yellow metal prices slightly declined on Thursday, Gandhi added.