Gold, silver drop from record peak on profit taking, Powell remarks weigh on metals
New Delhi, Sep 24 (PTI) Gold and silver prices declined from their record high in the national capital on Wednesday as traders booked profits at elevated levels after US Fed Chair Jerome Powell’s cautious tone on rate cuts. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity depreciated Rs 900 to Rs 1,18,000 per 10 grams (inclusive of all taxes), after the metal scaled an all-time high of Rs 1,18,900 per 10 grams in the previous session. In the local bullion market, gold of 99.5 per cent purity plunged Rs 900 to Rs 1,17,400