Gold prices fell by Rs 126 to Rs 49,960 per 10 grams here on Wednesday amid a decline in international prices along with gains in the rupee, according to HDFC Securities.
The yellow metal had closed at Rs 50,086 per 10 grams in the previous trade.
Silver was almost flat on Wednesday at Rs 63,939 per kg, compared with the previous close of Rs 63,916 per kg.
The rupee recovered 25 paise to 74.59 to a dollar.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Spot prices for 24-carat gold at Delhi fell by Rs 126 with a decline in COMEX gold prices along with rupee appreciation."
In global markets, gold prices slipped to $1,896 an ounce whereas silver was marginally up at $24.11 an ounce.