Gold plunges ₹430 ahead of Akshay Tritiya; silver tumbles by ₹670
The Hindu
Retail demand is likely to improve on Akshay Tritiya.
Gold prices plunged by ₹430 to ₹60,550 per 10 grams in the national capital on Friday amid weak global cues, according to HDFC Securities.
In the previous trade, the precious metal had settled at ₹60,980 per 10 grams.
Silver also tumbled ₹670 to ₹75,080 per kg.
Retail demand is likely to improve on Akshay Tritiya, which is considered an auspicious day to buy valuables and gold, Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said. Akshay Tritiya is falling on Saturday.
In the overseas markets, gold and silver were quoting lower at $1,988 per ounce and $25.12 per ounce, respectively.
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