Silver too slid further owing to sustained speculative selling and subdued industrial demand.
Standard gold (99.5 purity) dropped by Rs 155 to end at Rs 29,125 per 10 grams from Tuesday's level of Rs 29,280.
Pure gold (99.9 purity) also dipped by a similar margin to conclude at Rs 29,275 per 10 grams as against Rs 29,430 previously.
Silver (.999 fineness) also slumped by Rs 430 per kg to close at Rs 41,410 as compared to Rs 41,840 yesterday.
Spot gold fell 0.4 per cent to USD 1,204.21 per ounce at early trade. While silver dropped 1.1 per cent to USD 16.90 per ounce.
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