Gold slipped by ₹30 to ₹30,620 per 10 gram at the bullion market on Thursday on easing demand from local jewellers amid weak trend overseas.
Silver also slumped by ₹300 to ₹37,800 per kg on reduced offtake by industrial units and coin makers.
Traders said sentiment turned bearish as gold fell in global markets, after hitting a one-week high in the previous session, as fears of another round of US tariffs on China and expectations of higher interest rates lifted the dollar.
Globally, gold fell 0.65% to USD 1,187.50 an ounce and silver by 1.43% to USD 14.52 an ounce in Singapore.
Besides, slump in demand from local jewellers and retailers at existing levels fulled the downtrend, they said.
In the national capital, gold of 99.9% and 99.5% purity shed ₹30 each to ₹30,620 and ₹30,470 per 10 gram, respectively. The precious metal had gained ₹400 in the previous three days.
Sovereign however held steady at ₹24,500 per piece of eight gram.
In sync with gold, silver ready dropped by ₹300 to ₹37,800 per kg and weekly-based delivery by ₹200 to ₹36,750 per kg.
Silver coins however continued to be enquired at last level of ₹72,000 for buying and ₹73,000 for selling of 100 pieces.