Gold tumbles ₹650, silver nosedives ₹1,800; check rates here

(PTI) Gold price tumbled by ₹650 to ₹57,550 per 10 grams in the national capital on Tuesday amid weak global cues, according to HDFC Securities.

In the previous trade, the precious metal had ended at ₹58,200 per 10 grams.

Silver also nosedived ₹1,800 to ₹71,500 per kilogramme.

Gold and silver prices slipped on Comex in the previous session as the domestic market was shut on Monday, Navneet Damani, senior vice-president of commodity research at Motilal Oswal Financial Services, said.

In the overseas markets, both gold and silver were trading lower at USD 1,825 per ounce and USD 21.10 per ounce, respectively.

The Treasury bond yields have reached a new multi-decade high on the back of the US Federal Reserve's narrative in the past few week, that the interest rates would remain higher for longer, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.