New Delhi: Gold prices plunged by Rs 7,600 per 10 grams and silver tanked by Rs 27,700 per kg in the national capital on Thursday following profit taking by investors after recent gains.
According to the All India Sarafa Association, silver dropped sharply by Rs 27,700, or 9.23 per cent, to Rs 2,72,300 per kilogram.
Gold of 99.9 per cent purity also slumped by Rs 7,600, or 4.4 per cent, to Rs 1,65,200 per 10 grams. It settled at Rs 1,72,800 per 10 grams in the previous market session.
Meanwhile, silver prices climbed Rs 1,844 to Rs 2.67 lakh per kilogram in futures trade on Thursday, driven by firm global trends as investors flocked to safe-haven assets amid escalating geopolitical tensions in the Middle East.
On the MCX, the white metal for May delivery climbed Rs 1,844, or 0.69 per cent, to Rs 2,67,404 per kilogram in a business turnover of 6,353 lots.
Globally, Comex silver futures for the May contract gained $1.07, or 1.29 per cent, to $84.25 per ounce, while gold for the April delivery gained $29.56, or 0.58 per cent, to $5,164.26 per ounce in
New York.