Gold prices plummet Rs 766, silver also tumbles Rs 1,148

Gold prices plummeted by Rs 766 to Rs 40,634 per 10 gram in the national capital on Thursday amid a stronger rupee and weak global trends, according to HDFC Securities.

Tracking weakness in gold, silver prices also tumbled Rs 1,148 to Rs 47,932 per kg from Rs 49,080 per kg in the previous trade.

The precious metal had closed at Rs 41,400 per 10 gram on Wednesday.

"Gold traded lower as the U.S and Iran stepped back from a deeper military conflict. De-escalation resulted in buying in riskier assets like global equities," HDFC Securities Head - Advisory (PCG) Devarsh Vakil said.