New Delhi, Apr 23 (PTI) Gold prices declined by Rs 900 to Rs 1.56 lakh per 10 grams in the national capital on Thursday, and silver plunged to Rs 2.50 lakh per kilogram amid weak global trends.
The yellow metal had finished at Rs 1,57,000 per 10 grams in the previous market session.
Gold of 99.9 per cent purity depreciated by Rs 900 to Rs 1,56,100 per 10 grams (inclusive of all taxes) on Thursday, according to the All India Sarafa Association.
Silver prices fell Rs 5,300 to Rs 2,50,000 per kg (inclusive of all taxes) from Wednesday’s closing level of Rs 2,55,300 per kg.
“Gold prices extended their decline as a stronger US dollar and rising oil prices weighed on sentiment,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.
In the international market, spot silver fell nearly 2 per cent to USD 76.37 per ounce while gold traded marginally lower at USD 4,738.40 per ounce.
“Markets remain on edge due to limited progress in US-Iran negotiations and escalating tensions around the Strait of Hormuz. Adding to the downside, Treasury bond yields also edged higher, with the 10-year yield rising by around 3 basis points to 4.32 per cent, further reducing the appeal of safe-haven assets such as gold,” Gandhi said.
