According to HDFC Securities. Gold prices are tumbled by Rs 650 to Rs 57,550 per 10 grams in the national capital on Tuesday amid weak global cues.
In the previous trade, the precious metal had ended at Rs 58,200 per 10 grams and Silver also nosedived Rs 1,800 to Rs 71,500 per kilogramme.
"Gold and silver prices decreased on Comex in yesterday's trade as domestic market was closed on Monday", quoted Navneet Damani, senior vice president of commodity research at Motilal Oswal Financial Services, said.
Gold and silver prices fell in overseas markets, trading at US$1,825 and US$21.10 per ounce, respectively. Saumil Gandhi, senior analyst of commodities at HDFC Securities, said that the Treasury bond yields reached a new multi-decade high on the back of the US Federal Reserve’s narrative in the past few week.
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