Gold slips Rs 100; silver slumps Rs 400

Gold slips Rs 100; silver slumps Rs 400

New Delhi, Feb 20 (PTI) Gold slipped Rs 100 to Rs 62,700 per 10 grams in the national capital on Tuesday amid a fall in precious metal prices globally, according to HDFC Securities.

The yellow metal had closed at Rs 62,800 per 10 grams in the previous trade.

Silver also slumped Rs 400 to Rs 75,600 per kilogram, while it had settled at Rs 76,000 per kg in the previous close.

“Spot gold prices (24 carats) in the Delhi markets are trading at Rs 62,700 per 10 grams, down by Rs 100, taking a negative trend from overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at USD 2,018 per ounce, down by USD 2 from the previous close.

Also, silver was down at USD 23.01 per ounce, while it had ended at USD 23.09 per ounce in the previous trade.

Gold prices slightly declined on Tuesday as traders remained cautious before the release of the Federal Open Market Committee’s (FOMC) meeting minutes due on Wednesday, which will shape the expectations for the US Federal Reserve’s monetary policy interest rate outlook, Gandhi added.