Gold declines by Rs 640, silver plunges Rs 3,112

New Delhi: Gold prices fell by Rs 640 to Rs 54,269 per 10 gram in the national capital on Wednesday following decline in international prices of the precious metal, according to HDFC Securities.

The yellow metal had closed at Rs 54,909 per 10 gram in the previous trade.

Silver prices also faced selling pressure and declined by Rs 3,112 to Rs 69,450 per kg from Rs 72,562 per kg in the previous trade.

In the global market, gold was quoting lower at USD 1,988 per ounce, while silver was trading flat at USD 27.43 per ounce.

“Gold prices pared previous gains on dollar recovery as dollar index witnessed recovery on Wednesday ahead of the US Federal Open Market Committee (FOMC) minutes,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.