Gold Price Declines Rs 355; Silver Tumbles Rs 420

New Delhi: Gold price declined by Rs 355 to Rs 60,095 per 10 gram in the national capital on Monday amid weak global cues, according to HDFC Securities.

The precious metal had settled at Rs 60,450 per 10 gram in the previous trade.

Silver also tumbled Rs 420 to Rs 73,680 per kg.

"Spot gold prices in the Delhi markets traded at Rs 60,095 per 10 gram, weakened by Rs 355 per 10 gram," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

In the overseas market, both gold and silver were trading lower at USD 1,997 per ounce and USD 24.85 per ounce, respectively.

"COMEX gold was trading in the red in Asian trading hours on Monday after the US nonfarm payrolls report pointed to a tight labour market and raised the odds of another rate hike by the US Fed at its policy meeting in May," Sriram Iyer, Senior Research Analyst at Reliance Securities, said.