In the previous trade, the precious metal had closed at Rs 46,819 per 10 gram.
Silver also declined Rs 1,274 to Rs 68,239 per kg, from Rs 69,513 per kg in the previous trade.
“Spot gold prices for 24 karat in Delhi plunged Rs 717 in line with decline in global gold prices,” according to HDFC Securities Senior Analyst (Commodities) Tapan Patel.
In the international market, gold was quoting lower at USD 1,786 per ounce and silver was flat at USD 27.10 per ounce.
Gold futures ease on low demand
Gold futures fell 0.51 per cent to Rs 46,662 per 10 grams as participants offloaded their holdings on a low spot demand.
On the Multi Commodity Exchange, gold prices for the April delivery slipped by Rs 237, or 0.51 per cent, to Rs 46,662 per 10 gram in a business turnover of 13,206 lots.