Gold plunges Rs 1,250 to Rs 78,150 per 10 grams, silver plummets Rs 1,100

New Delhi: Gold prices fell sharply for the second straight session and plunged Rs 1,250 to Rs 78,150 per 10 grams in the national capital on Tuesday as strengthening dollar took the sheen off the yellow metal in the global markets.

Gold of 99.5 per cent purity also slumped Rs 1,250 to Rs 77,750 per 10 grams from Monday’s closing level of Rs 79,000 per 10 grams. Silver also followed suit and declined Rs 1,100 to Rs 90,600 per kg on Tuesday. It had closed Rs 1,600 lower at Rs 91,700 per kg in the previous session.

In futures trade on the MCX, gold contracts for December delivery rose Rs 175 or 0.23 per cent to trade at Rs 75,486 per 10 grams. It had closed at Rs 75,311 per 10 grams on Monday. Silver contracts for December delivery jumped Rs 698 or 0.8 per cent to Rs 88,397 per kg from the previous close of Rs 87,699 per kg.

Globally, Comex gold futures climbed $13.40 per ounce or 0.51 per cent to $2,656 per ounce. Silver also quoted 0.94 per cent higher at $30.95 per ounce in the Asian market hours.