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Alex Yee won the gold medal in the triathlon at the Commonwealth Games.
The New Zealander was given a 10-second penalty for a transition error after Yee overtook him in the 5 km run.
When Wilde was told of his punishment, Yee and Wilde were locked together.
Wilde allowed Yee to cross the line on his own.
I am not sad. It's weird that I'm doing this.
I'm very proud to be a triathlon person. It's an amazing day for triathlons and I'm very proud to be the winner.
Wilde, who had failed to store his bike helmet properly in transition between the bike and run disciplines, had enough time to take his penalty and win the silver medal. Iestyn Harrett of Wales finished ninth.
Wilde was quick to credit Yee, saying he was "chuffed" for the 24-year-old.
The rivalry between the two has been a theme of the triathlon season so far. Wilde and Yee won two of the four World Series events after finishing second and third at the Olympics.
In June of this year, Wilde was at fault for a bike crash that ended Yee's hopes of being part of Team England at the Olympics.
Wilde, who had been 21 seconds clear as part of a three-strong break on the bike leg, seemed poised to scrap it out for the title with Yee with less than a kilometer to go.
It was not the strength of their finishing kicks that made the difference.
Georgia Taylor-Brown is expected to win the gold medal in the women's race on Friday.