New Delhi: Gold prices plunged by Rs 1,500 to Rs 1,29,400 per 10 grams in the national capital on Friday tracking weak global trends after comments from Federal Reserve officials indicated that the absence of fresh economic data could delay further rate cuts.
The precious metal of 99.5 per cent purity declined by Rs 1,500 to Rs 1,28,800 per 10 grams from Thursday’s closing of Rs 1,30,300 per 10 grams, according to the All India Sarafa Association. In the local bullion market, gold of 99.9 per cent purity had finished at Rs 1,30,900 per 10 grams in the previous market session.
Silver prices also tumbled by Rs 4,200 to Rs 1,64,800 per kilogram on Friday. The white metal had closed at Rs 1,69,000 per kg on Thursday.
In the overseas market, spot gold fell by $33.58, or nearly 1 per cent to $4,137.88 an ounce while spot silver was trading 0.49 per cent lower at $52.03 per ounce. PTI