New Delhi: Gold and silver prices declined from their record high in the national capital on Wednesday as traders booked profits at elevated levels after US Fed Chair Jerome Powell’s cautious tone on rate cuts.

According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity depreciated Rs 900 to Rs 1,18,000 per 10 grams (inclusive of all taxes), after the metal scaled an all-time high of Rs 1,18,900 per 10 grams in the previous session.

In the local bullion market, gold of 99.5 per cent purity plunged Rs 900 to Rs 1,17,400 per 10 grams (inclusive of all taxes) on Wednesday. It surged Rs 2,650 to hit an all-time high of Rs 1,18,300 per 10 grams on Tuesday.

“Gold prices have slightly retreated from their record high, weighed down by a recovery in US dollar and haw

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