Gold declines Rs 216; silver tanks Rs 179

Gold price in the national capital on Wednesday declined by Rs 216 to Rs 47,010 per 10 gram in tandem with decline in international precious metal prices, according to HDFC Securities.

In the previous trade, the yellow metal settled at Rs 47,226 per 10 gram.

Silver also tanked Rs 179 to Rs 61,348 per kg from Rs 61,527 per kg in the previous trade.

In the international market, gold was trading lower at USD 1,804 per ounce and silver was flat at USD 23.07 per ounce.

"Gold prices traded weak with spot gold prices at COMEX trading at USD 1,804 per ounce on Wednesday. A stronger dollar also kept pressure on the precious metal for the day," HDFC Securities, Senior Analyst (Commodities), Tapan Patel said.