Gold declines Rs 150; silver tumbles Rs 850

In the previous trade, the precious metal had finished at Rs 60,050 per 10 grams.

New Delhi: Gold prices declined by Rs 150 to Rs 59,900 per 10 grams in the national capital on Tuesday amid weak global cues, according to HDFC Securities.

In the previous trade, the precious metal had finished at Rs 60,050 per 10 grams.

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Silver also tumbled Rs 850 to Rs 74,500 per kilogram.

In the international markets, both gold and silver were quoting lower at USD 1,912 per ounce and USD 23.05 per ounce, respectively.

Comex gold slipped to a two-week low, weighed down by strong gains in the US dollar and bond yields amid speculation that central banks will keep interest rates elevated for longer to rein in inflation, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

Meanwhile, in futures trade, the October contract of gold fell Rs 30 to Rs 58,671 per 10 grams. Also, December contract of silver plunged Rs 111 to Rs 72,039 per kg on the MCX.