Gold declines Rs 176 amid weak global trends

Gold price in the national capital fell by Rs 176 to Rs 50,649 per 10 grams on Wednesday, reflecting a decline in international precious metal prices, according to HDFC Securities.

In the previous trade, the yellow metal settled at Rs 50,825 per 10 grams.

Silver also fell by Rs 443 to Rs 59,725 per kg from Rs 60,168 per kg in the previous trade.

"Spot gold prices for 24-carat gold in Delhi fell by Rs 176 in line with decline in COMEX gold prices," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.

In the international market, gold was quoting lower at USD 1,817 per ounce while silver was flat at USD 20.82 per ounce.

Gold prices traded weak with spot gold prices at COMEX trading 0.11 percent down at USD 1,817 per ounce on Wednesday, Patel added.