Gold declines Rs 300, silver plunges Rs 400

New Delhi: Gold prices declined by Rs 300 to Rs 59,600 per 10 grams in the national capital on Wednesday amid weak global cues, according to HDFC Securities.

The precious metal had closed at Rs 59,900 per 10 grams in the previous trade. Silver also plunged Rs 400 to Rs 74,100 per kg. In the global markets, gold and silver were quoting lower at USD 1,897 per ounce and USD 22.80 per ounce, respectively. The dollar extended its rise and reached a new 10-month high after the US Federal Reserve's hawkish signal that interest rates would remain higher for longer, Saumil Gandhi, senior analyst of commodities at HDFC Securities,