Gold declines ₹480; silver plunges ₹530

The yellow metal had finished at ₹60,550 per 10 grams in the previous trade

May 18, 2023 04:44 pm | Updated 04:44 pm IST - New Delhi

Image used for representative purpose only.

Image used for representative purpose only. | Photo Credit: Reuters

Gold prices softened by ₹480 to ₹60,070 per 10 grams in the national capital on May 18 amid a decline in international precious metal prices, according to HDFC Securities.

The yellow metal had finished at ₹60,550 per 10 grams in the previous trade.

Silver also plunged by ₹530 to ₹72,750 per kilogramme.

"Spot gold prices in the Delhi markets traded at Rs 60,070 per 10 grams, down ₹480 per 10 grams," Saumil Gandhi, Senior Analyst — Commodities at HDFC Securities, said.

In the international market, both gold and silver were quoting lower at $1,975 per ounce and $23.60 per ounce, respectively.

Gold price traded down in Asian trading hours on May 18 as uptick in U.S. dollar weighed on precious metal price, Gandhi said.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.