However, silver recovered by Rs 250 to Rs 55,450 per kg on increased offtake by industrial units and coin makers.
Marketmen said sluggish demand at current levels amid a weak global trend mainly led to the fall in gold prices.
In New York, gold declined by USD 2.20 to USD 1,574.60 an ounce.
In addition, investors shifting their funds to rising equity market for quick gains further influenced the sentiment.
On the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 125 each to Rs 30,045 and Rs 29,845 per 10 grams, respectively. It had shed Rs 10 yesterday. Sovereigns continued to be asked around previous level of Rs 25,300 per piece of eight grams.
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