New Delhi, Feb 27: Gold prices dropped by Rs 1,150 to Rs 88,200 per 10 grams in the national capital on Thursday, reflecting a downtrend in global markets, as reported by the All India Sarafa Association.
Gold with 99.5% purity also saw a decline of Rs 1,150, falling to Rs 87,800 per 10 grams, compared to the previous closing price of Rs 88,950 per 10 grams.
Silver prices experienced a similar downturn, dropping by Rs 1,000 to Rs 98,500 per kg, down from Rs 99,500 per kg in the previous session. The bullion markets were closed on Wednesday due to Mahashivratri.
In futures trading on the Multi Commodity Exchange (MCX), gold contracts for April delivery fell by Rs 554, settling at Rs 85,320 per 10 grams.
Overseas, Comex gold futures for April delivery declined by USD 23.10 per ounce, or 0.79%, to USD 2,907.50 per ounce. Meanwhile, spot gold slipped below the USD 2,900 mark, trading at USD 2,892.95 per ounce.