(PTI) The prices of gold tumbled ₹650 to ₹58,950 per 10 grams in the national capital on Thursday amid decline in the precious metal's prices in the overseas markets, according to HDFC Securities.
In the previous trade, the yellow metal had settled at ₹59,600 per 10 grams.
Silver also nosedived ₹1,000 to ₹73,100 per kg.
Comex gold hit a six-month low as an uptick in the US dollar and treasury yields weighed on the precious metal, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
In the international markets, gold and silver were trading lower at USD 1,877 per ounce and USD 22.55 per ounce, respectively.
Market focus now turns to the revised US GDP growth rate for the second quarter and weekly jobless claims due later in the day, Navneet Damani, senior vice-president of commodity research at Motilal Oswal Financial Services, said.