Elsewhere, silver tumbled, extending its losses for the third straight day to close below the key Rs 46,000 mark on heavy speculative unwinding.
Standard gold (99.5 purity) declined by Rs 15 to end at Rs 31,160 per 10 grams from last Friday's close of Rs 31,175.
Pure gold (99.9 purity) also fell by a similar margin to settle at Rs 31,310 per 10 grams compared to Rs 31,325 earlier.
Silver (.999 fineness) slumped by Rs 1,175 per kg to conclude at Rs 45,335 against Rs 46,510 previously.
Spot gold held steady at USD 1,327.92 an ounce in early European trade.
Among other precious metal, spot silver shed 0.4 per cent to USD 18.95. The metal touched its lowest since September 2 at USD 18.75 per ounce.
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