Gold remains flat at Rs 60,050; silver tumbles Rs 450

Gold price remained flat at Rs 60,050 per 10 grams in the national capital on Monday, according to HDFC Securities. However, silver tumbled Rs 450 to Rs 75,350 per kilogram.

In the international markets, both gold and silver were down at USD 1,922 per ounce and USD 23.45 per ounce, respectively.

Strength in dollar index, following recent strong US macro data and hawkish remarks from Federal Reserve’s FOMC policy meeting, which weighed on gold prices, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
Meanwhile, in futures trade, the October contract of gold declined Rs 102 to Rs 58,844 per 10 grams. Also, December contract of silver plunged Rs 171 to Rs 73,166 per kg on the MCX.

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