Gold jumps ₹170; silver plunges ₹300

Gold prices jumped ₹170 to ₹63,370 per 10 grams in the national capital on Wednesday amid gains in precious metal’s prices globally, according to HDFC Securities.

The yellow metal had closed at ₹63,200 per 10 grams in the previous trade.

However, silver plunged ₹300 to ₹74,600 per kilogram, while it had ended at ₹74,900 per kg in the previous close.

“Spot gold prices (24 carats) in the Delhi markets are trading at ₹63,370 per 10 grams, up by ₹170, taking bullish cues from the overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at $2,033 per ounce. However, silver was trading marginally lower at $22.24 per ounce.

Amid a pullback in the U.S. Treasury yields and dollar, gold prices rose on Wednesday, Gandhi added.