New Delhi, Nov 14: Gold prices plunged by Rs 1,500 to Rs 1,29,400 per 10 grams in the national capital on Friday tracking weak global trends after comments from Federal Reserve officials indicated that the absence of fresh economic data could delay further rate cuts.

The precious metal of 99.5 per cent purity declined by Rs 1,500 to Rs 1,28,800 per 10 grams (inclusive of all taxes) from Thursday’s closing of Rs 1,30,300 per 10 grams, according to the All India Sarafa Association.

In the local bullion market, gold of 99.9 per cent purity had finished at Rs 1,30,900 per 10 grams in the previous market session.

“Gold softened at the end of the week as uncertainty regarding the Federal Reserve’s next rate cut increased,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities said.

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