Gold prices on Tuesday tumbled Rs 679 to Rs 44,760 per 10 grams in the national capital, due to bleak international market trend and rupee appreciation, according to HDFC Securities.
The precious metal had closed at Rs 45,439 per 10 grams in the previous close.
Silver also crashed by Rs 1,847 to Rs 67,073 per kg from the closing of Rs 68,920 per kg in the previous day trade.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Spot prices for 24 karat gold at Delhi plunged by Rs 679 with fall in global gold prices and rupee appreciation.”
The spot rupee was trading around 14 paise stronger against the US dollar during the day, he added.
In the international market, gold was trading lower at USD 1,719 an ounce and silver was down at USD 26.08 an ounce.