Gold falls Rs 50; silver tumbles Rs 300

New Delhi: Gold prices fell by Rs 50 to Rs 60,300 per 10 grams in the national capital on Wednesday amid weak global cues, according to HDFC Securities.

The precious metal had ended at Rs 60,350 per 10 grams in the previous trade. Silver also tumbled Rs 300 to Rs 74,500 per kilogram. In the overseas markets, gold and silver were quoting lower at USD 1,929 per ounce and USD 23.20 per ounce, respectively. Comex gold retreated from a two-week high as traders turned cautious and trimmed their positions ahead of the outcome of US FOMC (Federal Open Market Committee) meeting on interest rates later today, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said