Gold declines Rs 150; silver plunges Rs 400

NewsDrum Desk
New Update

New Delhi, Feb 5 (PTI) Gold prices declined Rs 150 to Rs 63,350 per 10 grams in the national capital on Monday amid weak global cues, according to HDFC Securities.

In the previous trade, the precious metal had ended at Rs 63,500 per 10 grams.

Silver also plunged Rs 400 to Rs 75,500 per kilogram, while it had closed at Rs 75,900 per kg in the previous trade.

"Spot gold prices (24 carats) in the Delhi markets are trading at Rs 63,350 per 10 grams, down by Rs 150, taking bearish cues from the overseas markets," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at USD 2,024 per ounce, down by USD 15 from the previous close.

Also, silver was trading lower at USD 22.45 per ounce.

Gold traded lower as the dollar and yields jumped after a strong US non-farm payrolls data which created some uncertainty about the US Federal Reserve's monetary policy path this year, Navneet Damani, Senior VP of Commodity Research at Motilal Oswal Financial Services, said. PTI HG DR