Gold prices plunged Rs 694 to Rs 51,215 per 10 grams in the national capital on Wednesday amid rupee appreciation, according to HDFC Securities. The precious metal had in the previous trade closed at Rs 51,909 per 10 grams.
Silver, however, rose Rs 126 to Rs 63,427 per kg, from Rs 63,301 per kg in the previous trade.
"Spot gold prices for 24 karats in Delhi plunged Rs 694 amid rupee appreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
Meanwhile, snapping its two-day losing streak, the rupee strengthened by 13 paise to settle at 73.
33 against the US dollar on Wednesday helped by positive domestic equities and foreign fund inflows.
In the international market, gold was trading with gains at USD 1,892 per ounce and silver was flat at USD 23.73 per ounce.