Gold plunges Rs 350; silver declines Rs 300

New Delhi: Gold price plunged Rs 350 to Rs 60,150 per 10 grams in the national capital on Monday amid weak cues in international markets, according to HDFC Securities.

The precious metal had closed at Rs 60,500 per 10 grams in the previous trade. Silver also declined Rs 300 to Rs 74,000 per kg. In the global markets, both gold and silver were quoting lower at USD 1,912 per ounce and USD 22.50 per ounce, respectively. "Gold failed to capitalise on the previous week's strong gains as traders locked in their profits after a recent rally in prices," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.