Gold price declined Rs 71 to Rs 53,300 per 10 grams in the national capital on Wednesday amid rupee appreciation, according to HDFC Securities.
In the previous trade, the yellow metal had touched Rs 53,371 per 10 grams.
Silver also dropped Rs 66 to Rs 63,199 per kilogram.
"Spot gold prices in the Delhi markets were down amid stronger rupee and risk-on sentiments," Dilip Parmar, Research Analyst at HDFC Securities, said.
The rupee gained 28 paise to 81.44 against the US dollar.
Comex spot gold is headed for its biggest monthly gain since May 2021 after the dollar fell on signs that the US Federal Reserve is preparing to slow the pace of interest-rate hikes, Parmar said.
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In the international market, both gold and silver were trading flat at USD 1,756.5 per ounce and 21.34 per ounce, respectively.
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