The price of gold on Monday fell to Rs 56, 000 per tola posting a decline of Rs 700 on the local market, traders said. The price of gold per 10 grams also receded by Rs 600 to Rs 48, 000 in a single day trading. On the international market, the price precious metal was cited $1718 an ounce down from $1740. The price of silver remained unchanged as Rs 1,100 per tola and Rs 942.85 per 10 grams respectively, traders said.