On Wednesday, Gold prices remained unchanged in morning trade, with 10 gram of precious metal (24-carat) trading at Rs 51,980 and 10 gram of 22-carat gold trading at Rs 47,650.

Also, Silver prices declined by Rs 300, with the metal trading at Rs 60,000 per kg.

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Meanwhile, gold prices in the US were hemmed in a tight range yesterday as prospects of higher interest rates challenged bullion’s safe-haven appeal while recession risks boosted it. Spot gold edged 0.1 per cent lower to $1,820.31 per ounce by 2:09 p.m. ET (1809 GMT), and spot silver fell 1.5 per cent to $20.82 per ounce.

US gold futures settled down 0.2 per cent at $1,821.2