Gold price dropped by ₹150 to ₹61,350 per 10 gram in the national capital on Wednesday amid a decline in the precious metal’s price in overseas markets, according to HDFC Securities.
The yellow metal had ended at ₹61,500 per 10 gram in the previous trade.
Silver also tumbled ₹950 to ₹73,600 per kg.
In the global markets, gold and silver were trading down at $1,966 per ounce and $22.55 per ounce, respectively.
Gold fell due to an uptick in the dollar and hawkish comments from the U.S. Federal Reserve members which emphasised on Tuesday that bringing inflation fully down to the central bank’s 2% goal is their main focus, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
