Gold declines by Rs 58; silver tumbles Rs 601

New Delhi: Gold prices declined by Rs 58 to Rs 50,793 per 10 grams in the national capital on Friday, according to HDFC securities. In the previous trade, the yellow metal settled at Rs 50,851 per 10 grams.

Silver also tumbled by Rs 601 to Rs 60,914 per kg from Rs 61,515 per kg in the previous trade.

In the international market, gold was quoting lower at USD 1,846 per ounce and silver was trading flat at USD 21.69 per ounce.

Gold witnessed selling with rise in US bond yields and a stronger dollar, said Tapan Patel, Senior Analyst (Commodities) at Securities.