In the international market, gold was trading lower.
Gold price in the national capital on Wednesday declined by ₹ 216 to ₹ 47,010 per 10 gram in tandem with decline in international precious metal prices, according to HDFC Securities.
In the previous trade, the yellow metal settled at ₹ 47,226 per 10 gram.
Silver also tanked ₹ 179 to ₹ 61,348 per kg from ₹ 61,527 per kg in the previous trade.
In the international market, gold was trading lower at $ 1,804 per ounce and silver was flat at $ 23.07 per ounce.
"Gold prices traded weak with spot gold prices at COMEX trading at $ 1,804 per ounce on Wednesday. A stronger dollar also kept pressure on the precious metal for the day," HDFC Securities, Senior Analyst (Commodities), Tapan Patel said.
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