Gold tumbles Rs 681; Silver plummets Rs 2,045 amid weak global trends

New Delhi, Gold price tumbled Rs 681 to Rs 57,929 per 10 grams in the national capital on Friday amid a decline in rates of precious metal globally, according to the HDFC Securities. The yellow metal had ended Rs 58,610 per 10 grams in the previous trade.

Silver also plummeted Rs 2,045 to Rs 70,335 per kilogram.

“Spot gold prices in the Delhi markets traded at Rs 57,929 per 10 grams, down Rs 681 per 10 grams,” said an analyst at

Securities.

In the overseas market, both gold and silver were traded in red at USD 1,913 per ounce and USD 23.38 per ounce, respectively.

Comex gold prices retreated from fresh high of USD 1,975 per ounce and closed lower by 1.94 per cent on Thursday as investors locked in profits after the precious metal scaled a nine-month peak on dovish remarks on the metal from Federal Reserve Chair Jerome Powell, the analyst said.

“Today we could see further volatility in the market, as focus will be on US non-farm payroll, unemployment rate data scheduled,” Navneet Damani, Senior VP – Commodity Research at , said.