Gold tumbled by Rs 150 to Rs 30,250 per ten gram at the bullion market on Friday, hit by a subdued trend overseas and falling demand from local jewellers.
Silver, too, faced selling pressure and lost Rs 125 to Rs 39,200 per kg.
Traders said the global weakness of precious metals, as higher dollar against a basket of currencies overseas dented the safe haven appeal of gold, dampened sentiments here.
Globally, gold fell 0.69 per cent to $1,274.60 an ounce in New York on Thursday.
A considerable drop in demand from jewellers and retailers at existing levels, too, hit the sentiment, they said.
Sovereign, however, traded flat at Rs 24,700 per piece of eight gram in scattered deals.
In sync with the overall trend, silver ready slipped by Rs 125 to Rs 39,200 per kg and weekly-based delivery by Rs 210 to Rs 37,710 per kg.
Silver coins also came under some pressure and fell by Rs 1,000 to trade at Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.