Gold prices declined for the second consecutive day in the national capital on Wednesday, falling Rs 631 to Rs 51,367 per 10 gram amid rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 51,998 per 10 gram.
Silver prices also tanked Rs 1,681 to Rs 62,158 per kilogram from Rs 63,839 per kilogram in the previous trade.
Meanwhile, the rupee edged 4 paise higher to close at 73.31 against the US dollar on Wednesday, tracking weak American currency.
In the international market, gold traded with marginal gains at USD 1,896 per ounce, while silver was flat at USD 24.16 per ounce.
"Gold prices were trading with minor gains but continued to trade below USD 1,900 from start of the week with rise in dollar index which lowered investors' appetite for precious metals," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.