Gold prices declined Rs 534 to Rs 48,652 per 10 gram on Thursday in the national capital in line with lower global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 49,186 per 10 gram.

Silver also dipped Rs 628 to Rs 62,711 per kg, from Rs 63,339 per kg in the previous trade. In the international market, gold declined to USD 1,835 per ounce and silver was flat at USD 23.84 per ounce.

''Gold prices witnessed declined as negotiations over further US fiscal stimulus dragged on and the dollar rose for a fourth straight session,'' HDFC Securities Senior Analyst (Commodities) Tapan Patel said.