Gold falls Rs 50; silver declines Rs 400

Gold price fell by Rs 50 to Rs 59,600 per 10 grams in the national capital on Thursday amid fall in precious metal prices in overseas markets, according to HDFC Securities.

In the previous trade, the yellow metal had finished at Rs 59,650 per 10 grams.

Silver also tumbled Rs 400 to Rs 73,000 per kg.

In the international markets, both gold and silver were quoting lower at USD 1,906 per ounce and USD 22.55 per ounce, respectively.

“The Comex gold price dropped to a fresh three-week low as fresh US inflation data indicated the Federal Reserve may implement further monetary tightening this year,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.