Gold prices dropped by Rs500 to Rs 60,580 per 10 grams in New Delhi on Wednesday due to weak global cues. In the previous trade, gold had settled at Rs 61,080 per 10 grams. Meanwhile, silver also softened by Rs 450 to Rs 73,300 per kilogramme. Saumil Gandhi, senior analyst (commodities) at HDFC Securities, stated that spot gold prices in Delhi markets traded at Rs 60,580 per 10 grams, down Rs500 per 10 grams.
In the overseas market, gold and silver were trading lower at USD 1,992 per ounce and USD 23.82 per ounce, respectively.
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