Gold prices nose-dived by Rs 2,300 per tola to 26-month low level of Rs 47,500, traders said Wednesday. Prices of gold per 10 gram slumped by Rs 1,971 to Rs 40,744, traders said, adding that the continuous fall in the yellow metal value shows a persistent negative selling trend. The price of gold in the global market declined by $58 an ounce to $1,225. During the current month, gold price fell by Rs 6,100 per tola, traders said.