Gold declines Rs 232, silver tanks Rs 1,955 amid drop in global prices

Gold in the national capital on Wednesday declined by Rs 232 to Rs 47,387 per 10 gram amid decline in global precious metal prices, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 47,619 per 10 gram.

Silver also dipped Rs 1,955 to Rs 67,605 per kilogram from Rs 69,560 per kilogram in the previous trade.

In the international market, gold was quoting lower at USD 1,835 per ounce and silver was flat at USD 26.78 per ounce.

Gold prices are trading under pressure on stronger dollar and rally in equity indices, according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.