Gold in the national capital on Wednesday tumbled ₹302 to ₹46,848 per 10 gram reflecting an overnight decline in international precious metal prices along with rupee appreciation, according to HDFC Securities.
In the previous trade, the precious metal had settled at ₹47,150 per 10 gram.
Silver also dipped ₹81 to ₹61,031 per kilogram from ₹61,112 per kilogram in the previous trade.
The rupee gained 22 paise to close at 74.91 (provisional) against the U.S. dollar on Wednesday.
"Spot gold prices for 24-carat gold at Delhi fell by Rs 302 reflecting an overnight decline in COMEX gold prices along with rupee appreciation," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
In the international market, gold was trading with marginal gains at $1,778 per ounce and silver was flat at $22.74 per ounce.
"Gold prices traded firm with spot gold prices at COMEX trading marginally up at USD 1,778 per ounce on Wednesday," Mr. Patel added.