Gold price declined Rs 305 to Rs 56,035 per 10 grams in the national capital on Thursday amid a fall in rates of precious metal in the overseas markets, according to HDFC Securities.

Silver also plummeted Rs 805 to Rs 65,095 per kg.

In the overseas market, both gold and silver were quoting lower at USD 1,827 per ounce and USD 21.57 per ounce, respectively.