May 12, 2021

Gold costs: Gold tanks Rs 662, silver tumbles Rs 1,431



New Delhi: Gold costs tanked Rs 662 to Rs 50,338 per 10 gram within the nationwide capital on Tuesday, in accordance with HDFC Securities. Within the earlier commerce, the treasured metallic had closed at Rs 51,000 per 10 gram.

Silver costs additionally tumbled Rs 1,431 to Rs 62,217 per kilogram from Rs 63,648 per kilogram within the earlier commerce.

“Correction in gold costs in India might entice competition shopping for forward of auspicious ‘Dhanteras’,” HDFC Securities Senior Analyst (Commodities) Tapan Patel stated.

Within the worldwide market, gold was buying and selling within the inexperienced at USD 1,886 per ounce, whereas silver was quoting flat at USD 24.31 per ounce.

“Gold costs earlier witnessed sell-off on vaccine hopes. Nonetheless, costs recovered at the moment on supportive fundamentals with dovish stance from central banks amid slower financial development and ongoing lockdown in Europe,” Patel added.