Gold declines Rs 420; silver jumps Rs 500

Gold price declined by Rs 420 to Rs 60,380 per 10 gram in the national capital on Thursday amid a fall in prices of the precious metal overseas, according to HDFC Securities. The yellow metal had closed at Rs 60,800 per 10 gram in the previous trade.

Silver, however, jumped Rs 500 to Rs 73,300 per kilogram.

"Spot gold prices for the Delhi market traded at Rs 60,380/ per 10 gram, down by Rs 420 per 10 gram," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

In the international markets, gold was quoting lower at USD 1,945 per ounce while silver was up at USD 23.65 per ounce.

Gold price came under pressure on the back of a rally in US bond yields on expectations of further tightening of the interest rates by the US Fed, Gandhi said.