Gold declines Rs 1,670; silver surges Rs 4,360

New Delhi: Gold prices plunged Rs 1,670 to Rs 1,31,530 per 10 grams in the national capital on Tuesday, amid weak trends in the international markets, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had settled at Rs 1,33,200 per 10 grams in the previous market session.

However, silver extended its rally for the sixth straight session and soared Rs 4,360 to Rs 1,81,360 per kilogram. It had closed at Rs 1,77,000 per kilogram on Monday, as per the association. On the global front, spot gold fell by $45.17, or 1.07 per cent, to $4,187 per ounce, while silver was trading 1.77 per cent lower at $56.97 per ounce.

“Gold edged lower on Tuesday as traders booked profits after prices hit a multi-week high in the previous session, while a cautious approach adopted by traders before the important US macro data due later this week also contributed to the decline,” Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.