Gold plunges Rs 510; silver plummets Rs 920

Gold prices declined Rs 510 to Rs 59,940 per 10 grams in the national capital on Wednesday amid weak global trends, according to HDFC Securities. The precious metal had closed at Rs 60,450 per 10 grams in the previous trade.

Silver also plummeted Rs 920 to Rs 74,680 per kg.

"Spot gold prices in the Delhi markets traded at Rs 59,940 per 10 grams, down Rs 510 per 10 grams," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.


In the overseas markets, both gold and silver were trading lower at USD 1,986 per ounce and USD 24.79 per ounce, respectively.

Gold prices declined in Asian trading hours on Wednesday due to pullback in US dollar and bond yield, Gandhi said.