Gold Price: Yellow metal drops Rs 163; silver falls Rs 195

Gold price in the national capital on Thursday dropped by Rs 163 to Rs 50,314 per 10 grams amid decline in international precious metal prices, according to HDFC Securities.

In the previous trade, the yellow metal finished at Rs 50,477 per 10 grams.

Silver also dipped by Rs 195 to Rs 56,254 per kg from Rs 56,449 per kg in the previous trade.

"Spot gold prices for 24-carat gold in Delhi fell by Rs 163 reflecting overnight fall in COMEX gold prices," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.

In the international market, gold was quoting lower at USD 1,717 per ounce while silver was flat at USD 18.95 per ounce.