Gold, Silver Prices Plunge in Delhi: Rs 2,700 & Rs 10,000 Drop - Rediff MoneyWiz

AI desk brief

Gold and silver slumped sharply in Delhi despite gains in global bullion: 99.9% gold fell Rs 2,700 to Rs 1,55,900/10g and silver dropped Rs 10,000 to Rs 2,34,600/kg. Local traders blamed post-rally selling, while HDFC Securities noted that elevated crude prices are reviving inflation concerns and that higher Treasury yields and rate-hike expectations are weighing on gold.

Overseas, spot gold rose USD 49.82 to USD 4,366.58/oz and silver gained 2% to USD 64.77/oz, but the analyst said gold remains under pressure and is on track for a third straight weekly decline.