Gold price declines to Rs 59,300 and silver dipped to Rs 72,800

New Delhi: Gold prices declined Rs 300 to Rs 59,300 per 10 grams in the national capital on Thursday amid weak cues in international markets, according to HDFC Securities.

The precious metal had settled at Rs 59,600 per 10 grams in the previous trade.

Silver also dipped by Rs 300 to Rs 72,800 per kg.

On Thursday, gold traded lower with spot prices in the Delhi market at Rs 59,300 per 10 grams, down by Rs 300 from its previous close, Dilip Parmar, research analyst at HDFC Securities, said.

In the global markets, both gold and silver were trading lower at USD 1,895.5 per ounce and USD 22.65 per ounce, respectively.

"Gold price hovered around five-month lows as the US dollar and treasury yields gained momentum after recent upbeat economic data added weight to expectations that the Federal Reserve would carry on with its monetary policy tightening," Navneet Damani, senior vice-president, commodity research, at Motilal Oswal Financial Services, said.