NEW DELHI, May 17 (PTI): Gold prices plunged by Rs 500 to Rs 60,580 per 10 grams in the national capital on Wednesday amid weak global cues, according to HDFC Securities.
The precious metal had settled at Rs 61,080 per 10 grams in the previous trade.
Silver also softened by Rs 450 to Rs 73,300 per kilogramme.
“Spot gold prices in the Delhi markets traded at Rs 60,580 per 10 grams, down Rs 500 per 10 grams,” Saumil Gandhi, senior analyst – commodities at HDFC Securities, said.
In the overseas market, both gold and silver were trading lower at USD 1,992 per ounce and USD 23.82 per ounce, respectively.
Comex gold prices traded weaker on Wednesday weighed down by the dollar’s strength, Sriram Iyer, Senior Research Analyst at Reliance Securities, said.