Gold plunges Rs 430 ahead of Akshay Tritiya; silver tumbles by Rs 670

Gold prices plunged by Rs 430 to Rs 60,550 per 10 grams in the national capital on Friday amid weak global cues, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 60,980 per 10 grams.

Silver also tumbled Rs 670 to Rs 75,080 per kg.

Retail demand is likely to improve on Akshay Tritiya, which is considered an auspicious day to buy valuables and gold, Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said. Akshay Tritiya is falling on Saturday.
In the overseas markets, gold and silver were quoting lower at USD 1,988 per ounce and USD 25.12 per ounce, respectively.