Gold drops Rs 100; silver declines Rs 200

New Delhi: Gold prices dropped by Rs 100 to Rs 60,350 per 10 grams in the national capital on Monday amid weak global cues, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 60,450 per 10 grams.

Silver also declined by Rs 200 to Rs 77,000 per kilogramme.

Gold eased on Monday, with spot gold prices in the Delhi markets trading at Rs 60,350/10 grams down by Rs 100 per 10 grams, Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

In the international market, both gold and silver were trading lower at USD 1,963 per ounce and USD 24.60 per ounce, respectively.

Gold prices traded in a choppy range with thin volume as investors remained cautious ahead of a crucial Federal Reserve meeting on Wednesday, Gandhi said.