Gold plunges Rs 1,492 to Rs 52,819 per 10 grams

The precious yellow metal had closed at Rs 54,311 per 10 grams in the previous trade.

Silver also witnessed weak trend as it tanked Rs 1,476 to Rs 67,924 per kg, from Rs 69,400 per kg in the previous day.

In the international market, gold was trading lower at USD 1,927 per ounce and silver was quoting marginally higher at USD 26.71 per ounce.

“Gold prices continued downtrend on Thursday with stronger dollar post US Federal Open Market Committee (FOMC) minutes,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

As per the FOMC minutes, the committee members have expressed concern over the continuing impact of the COVID-19 pandemic on economic growth.