Gold prices today declined 50 rupees at Multi Commodity Exchange for October contracts. The precious metal was trading at 58,769 rupees per 10 gram. Silver was also down by 404 rupees to trade at 73,600 rupees per kilogram for September Contracts when reports last came in.

In the global markets, gold was trading down at 1,945 dollars and 70 cents per ounce at the New York Mercantile Exchange. Silver was also trading down at 24 dollars and 57 cents per ounce in the intra-day session.