Silver tanks Rs 9,000, gold falls Rs 3,500 on weak global trends

New Delhi: Silver prices fell sharply by Rs 9,000 to Rs 2.37 lakh per kilogram in the national capital on Thursday, while gold declined Rs 3,500 to Rs 1.51 lakh per 10 grams amid a bearish sentiment in the domestic market.

According to the All India Sarafa Association, the white metal depreciated Rs 9,000, or 3.66 per cent, to Rs 2,37,000 (inclusive of all taxes) from Thursday’s closing level of Rs 2,46,000 per kg.

Gold of 99.9 per cent purity also declined Rs 3,500, or 2.26 per cent, to Rs 1,51,500 per 10 grams (inclusive of all taxes).

In the international market, spot silver plummeted by $5.49, or 7.32 per cent, to $69.57 per ounce, while gold declined $166.79, or 3.51 per cent, to $4,591.52 per ounce.

Spot gold ended the sharp surge of three sessions on Thursday as crude oil has surged yet again after US President Trump’s warning that Iran will be hit hard in the next two-three weeks, Praveen Singh, Head of commodities, Mirae Asset ShareKhan, said.