Gold falls Rs 50; silver plunges Rs 500

New Delhi: Gold price fell by Rs 50 to Rs 57,500 per 10 grams in the national capital on Wednesday amid a fall in precious metal prices in international markets, according to HDFC Securities.

The yellow metal had settled at Rs 57,550 per 10 grams in the previous trade. Silver also plunged Rs 500 to Rs 71,000 per kg. In the overseas markets, gold was quoting lower at USD 1,822 per ounce, while silver was flat at USD 21.09 per ounce. Comex spot gold traded around its lowest level in almost seven months on the back of strong US macro data and a surge in US bond yields, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.