Gold Price Plunges Rs 400, Silver Tumbles Rs 400 - HDFC Securities
Dec 06, 2023 16:33
Gold prices in India fell by Rs 400 to Rs 62,850 per 10 grams on Wednesday, following a decline in global demand, according to HDFC Securities. Silver also dropped by Rs 400.
New Delhi, Dec 6 (PTI) Gold prices plunged Rs 400 to Rs 62,850 per 10 grams in the national capital on Wednesday amid a decline in precious metal's demand internationally, according to HDFC Securities.
In the previous trade, the yellow metal had settled at Rs 63,250 per 10 grams.
HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said gold continued their downward movement on Wednesday in the Delhi markets trading at Rs 62,850/10 grams, down by Rs 400, following a bearish trend in the overseas markets.
Silver also tumbled Rs 400 to Rs 78,100 per kilogram.
In the global markets, gold and silver were down at USD 2,029 per ounce and USD 24.26 per ounce, respectively.
Spot gold at Comex was trading at USD 2,029 per ounce, down by USD 8 from its previous close.
Gold prices extended falls in Wednesday's session due to weak demand and an uptick in the US dollar, Gandhi said.
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