Gold Drops Rs 435; Silver tumbles Rs 1,600

The price of gold fell from Rs 435 to Rs 49,282 per 10 grams in the nation’s capital on Wednesday, alongside lower prices for the precious metal in the international market, according to Securities. In previous trade, the yellow metal had settled at Rs 49,717 per 10 grams.

Silver also fell from Rs 1,600 to Rs 54,765 per kg.

“Spot gold prices for 24 karat gold in Delhi fell by 435 rupees per 10 grams on risk aversion sentiment and reduced participation of exchange traded funds (ETFs) in gold,” said Dilip Parmar, research analyst at HDFC Securities.

In the international market, gold was trading lower at $1,615.7 per ounce while silver was trading at $18 per ounce.

Gold prices declined as COMEX spot gold prices fell to $1,615 per ounce, a level last seen in April 2020, Parmar added.

The price of gold fell from Rs 435 to Rs 49,282 per 10 grams in the nation’s capital on Wednesday, alongside lower prices for the precious metal in the international market, according to Securities. In previous trade, the yellow metal had settled at Rs 49,717 per 10 grams.

Silver also fell from Rs 1,600 to Rs 54,765 per kg.

“Spot gold prices for 24 karat gold in Delhi fell by 435 rupees per 10 grams on risk aversion sentiment and reduced participation of exchange traded funds (ETFs) in gold,” said Dilip Parmar, research analyst at HDFC Securities.

In the international market, gold was trading lower at $1,615.7 per ounce while silver was trading at $18 per ounce.

Gold prices declined as COMEX spot gold prices fell to $1,615 per ounce, a level last seen in April 2020, Parmar added.