New Delhi, Jan 17: Gold prices plunged Rs 400 to Rs 63,050 per 10 grams in the national capital on Wednesday amid weak cues in the overseas market, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 63,450 per 10 grams.
Silver also tumbled Rs 600 to Rs 75,800 per kilogram.
In the global markets, gold and silver were quoting lower at USD 2,024 per ounce and USD 22.70 per ounce, respectively.
Gold witnessed significant downward pressure due to the strengthening dollar index and higher US Treasury yields, Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
Spot gold at Comex was trading at USD 2,024 per ounce, down by USD 25 from the previous close in the international markets.
Investors will closely monitor December US retail sales data which will be released on Wednesday and speeches from several Fed members which will provide insights on monetary policy interest rate path ahead, Gandhi added. (PTI)
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