(PTI) Gold price fell ₹420 to ₹54,554 per 10 grams in the national capital on Thursday amid weak global trends, according to HDFC Securities.
In the previous trade, the precious metal had closed at ₹54,974 per 10 grams.
Silver also tumbled ₹869 per kg to ₹68,254 per kilogram.
In the international market, gold was trading in red at USD 1,788 per ounce while silver was down at USD 23.14 per ounce.
"Comex Gold prices are trading lower in the Asian trading hours on back of hawkish tone from US Fed. Fed Chairman Powell signalled more rate hikes possible next year to cool down inflation at targeted level," said Dilip Parmar, Research Analyst at HDFC Securities.