Gold declines Rs 420; silver tumbles Rs 570

New Delhi, Apr 28 (PTI) Gold price declined Rs 420 to Rs 59,980 per 10 grams in the national capital on Friday amid weak global cues, according to HDFC Securities.

The precious metal had settled at Rs 60,400 per 10 grams in the previous trade.

Silver also tumbled Rs 570 to Rs 74,600 per kg.

“Domestic gold prices were trading lower on Friday, tracking overseas prices,” Sriram Iyer, Senior Research Analyst at Reliance Securities, said.

In the overseas markets, both gold and silver were trading lower at USD 1,982 per ounce and USD 24.82 per ounce, respectively.

“Gold price traded lower in Asian trading hour on Friday as recovery continued in dollar after US PCE data rose more than estimated,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.