Gold prices declined at the domestic bullion market on hectic profit-selling at higher levels amidst lower off-take from investors.
Silver also witnessed a sharp correction following heavy offloading from speculators on the back lower industrial demand.
At the global-level, gold continued to rise as investors consolidated their positions at low level buying after its recent fall.
Standard gold (99.5 purity) dropped by Rs 480 per 10 grams to end at Rs 26,195 from Tuesday's closing level of Rs 26,675.
Pure gold (99.9 purity) also dipped by similar margin of Rs 480 per 10 grams to close at Rs 26,320 from yesterday's close of Rs 26,800.
Silver ready (.999 fineness) tanked by an hefty Rs 4,465 per kg to conclude at Rs 52,600 from Rs 57,065 previously.
In London, spot gold was trading up at $1,658.60 an ounce in early trade, while silver was trading lower at $31.61 an ounce.
Special 
