Gold tumbles Rs 668; silver tanks Rs 1,390 tracking weak global trends
Gold price tumbled Rs 668 to Rs 51,727 per 10 grams in the national capital on Tuesday following a decline in the international precious metal prices, according to HDFC Securities.
In the previous trade, the precious metal settled at Rs 52,395 per 10 grams.
Silver also tanked Rs 1,390 to Rs 67,997 per kg from Rs 69,387 per kg in the previous trade.
In the international market, gold traded 1 per cent lower at USD 1,930 per ounce and silver was flat at USD 25.58 per ounce.
“Gold prices traded lower with spot gold prices at COMEX trading 1 per cent down at USD 1,930 per ounce on Tuesday,” HDFC Securities Senior Analyst Commodities Tapan Patel said.
Gold prices faced selling with surge in the US bond yields ahead of the US FOMC (Federal Open Market Committee) meet.