Gold Price Today: Gold on Wednesday declined by Rs 258 in the local market. The precious metal fell to Rs 51,233 per 10 grams at lower international metal prices, according to HDFC Securities. Whereas silver also declined by Rs 327 per kilogram, as per a report in PTI.

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The yellow metal settled at Rs 51,491 per 10 grams in the previous trade.

Silver also declined by Rs 327 per kilogram, to Rs 64,618 per kg from Rs 64,945 per kg in the previous trade.

In the international market, Gold was down at USD 1,892 per ounce, while silver was unchanged at USD 23.36 per ounce.

"Gold prices traded firm with spot gold prices at COMEX trading 0.23 percent up at USD 1,901 per ounce on Tuesday. Gold prices recovered on Tuesday following weaker dollar and fall in US bond yields," according to Tapan Patel, Senior Analyst (Commodities), HDFC Securities.

(With the inputs of PTI)