Gold rises Rs 150; silver plunges Rs 1,400

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New Delhi, Jun 11 (PTI) Gold prices rose by Rs 150 to Rs 71,950 per 10 grams in the national capital on Tuesday in line with firm trends in the international markets, according to HDFC Securities.

The precious metal had ended at Rs 71,800 per 10 grams on Monday.

However, silver prices plunged Rs 1,400 to Rs 90,700 per kg. In the previous session, it had closed at Rs 92,100 per kg.

"In the Delhi markets, spot gold prices (24 carats) are trading at Rs 71,950 per 10 grams, up by Rs 150 from the previous close," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.

In the global markets, spot gold at Comex was trading at USD 2,303 per ounce, up USD 10 from the previous close.

Gold rose on Tuesday as traders covered their shorts ahead of the US Federal Reserve's meeting outcome and US inflation data, which may provide fresh clues about the timing of the interest rate cuts, Gandhi said.

"...US Treasury yields and the US dollar also fell from their recent highs providing support for the precious metal prices," he added.

However, silver quoted lower at USD 29.20 per ounce. It had settled at USD 29.50 per ounce in the previous session. PTI HG HVA

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