Bullion counters were flat ahead of the
Union Budget as traders waited to see what Finance Minister Nirmala Sitharaman had in her kitty before taking a decision.
Gold was down 0.06 per cent at Rs 41,047 per 10 grams and
silver futures were down 0.06 per cent to Rs 46,886 per kg.
Commodity and equity markets across the world are closed for trading today.
Globally, spot gold rose 0.87 per cent at $1,587.5 an ounce, while US gold futures settled 0.1 per cent lower at $1,587.90 on Friday.
Gold posted its best month in five, while yields on US debt fell to almost five-month lows as it, Japan and other countries tightened travel curbs to China, where the death toll from the virus rose to 213.
The World Health Organization declared the epidemic a global emergency. The virus fears gripped financial markets, overshadowing the latest batch of upbeat corporate earnings.
Meanwhile, yields on the benchmark 10-year US Treasury note slid to a low of 1.508 per cent.
MSCI's gauge of stocks across the globe shed 1.21 per cent, while emerging market stocks lost 1.11 per cent. The world index has lost 1.2 for January, after gaining as much as 2.6 per cent earlier in the month.
In Europe, the pan-European STOXX 600 index closed down 1.07 per cent. Losses for the week were 3 per cent, its worst in almost six months, while the 1.2 per cent monthly loss was the worst January since 2016.