Silver plummeted to a one-month low and closed below the Rs 48,000 per kg mark on the back of heavy speculative unwinding coupled with sluggish industrial demand.
Standard gold (99.5 purity) fell by Rs 60 to finish at Rs 31,065 per 10 grams from last Saturday's closing level of Rs 31,125.
Pure gold (99.9 purity) also lost by a similar margin to end at Rs 31,215 per 10 grams as compared to Rs 31,275.
Globally, the shiny metal was trading marginally lower ahead of the release of minutes from the Federal Reserve's recent policy setting meeting.
Spot gold was bid down at USD 1,284.80 an ounce in early European trade and spot silver was bid soft at USD 20.65 an ounce.
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