Gold tanks Rs 297, silver slumps Rs 556

Silver also declined Rs 556 to Rs 59,569 per kg from Rs 60,125 per kg in the previous trade.

Gold in the national capital on Wednesday dipped Rs 297 to Rs 47,019 per 10 gram reflecting a decline in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 47,316 per 10 grams. Silver also declined Rs 556 to Rs 59,569 per kg from Rs 60,125 per kg in the previous trade.

In the international market, gold was trading lower at USD 1,769 per ounce and silver was flat at USD 21.92 per ounce. “Gold prices traded weak with spot gold prices at COMEX trading marginally down at USD 1,769 per ounce on Wednesday. Gold prices traded under pressure ahead of the US FOMC meeting outcome,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

PTI