Gold jumps Rs 475; silver plummets Rs 1,225

Gold prices jumped by Rs 475 to Rs 55,955 per 10 grams in the national capital on Wednesday amid strong global trends, according to HDFC Securities. The precious metal had ended at Rs 55,480 per 10 grams in the previous trade.

Silver, however, plummeted by Rs 1,225 to Rs 63,825 per kg.

“Spot gold prices in the Delhi markets traded at Rs 55,955 per 10 grams, up Rs 475 per 10 grams,” said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.
In the overseas market, gold was trading higher at USD 1,833 per ounce while silver was marginally up at USD 21.04 per ounce. “COMEX gold strengthened above USD 1,830 per ounce in the Asian trading hours on Wednesday, as the dollar eased from recent highs,” Sriram Iyer, Senior research analyst at Reliance Securities, said.