Gold declines ₹250; silver rallies ₹1,200

Gold closed at ₹58,950 per 10 grams in the previous trade. However, silver surged ₹1,200 to ₹74,300 per kilogram.
| Photo Credit: Reuters

Gold prices declined ₹250 to ₹58,700 per 10 grams in the national capital on September 29 amid a fall in precious metal prices overseas, according to HDFC Securities.

The yellow metal had closed at ₹58,950 per 10 grams in the previous trade. However, silver surged ₹1,200 to ₹74,300 per kilogram.

“Delhi spot gold prices fell to their lowest level since March 19, Saumil Gandhi,” senior analyst of commodities at HDFC Securities, said.

In the global markets, gold was trading lower at $1,871 per ounce, while silver was up at $23.05 per ounce. Gold have been trending lower since the beginning of the week, after the U.S. Federal Reserve’s hawkish signal that interest rates would remain higher for longer, Mr. Gandhi said.