Gold prices reacted downward from its last Saturday's all-time record high at the bullion market here today amid bearish global cues.
Silver also slipped on heavy stockists offloading on the back of lower industrial enquiries.
Standard gold (99.5 purity) fell by Rs 150 per 10 grams to Rs 18,645 from last weekend's closing level of Rs 18,795.
Pure gold (99.9 purity) also tanked by Rs 155 per 10 grams to Rs 18,730 as against previous closing level of Rs 18,885.
Silver ready (.999 fineness) declined by Rs 190 per kilo to close at Rs 28,855 as against Rs 29,045 previously.
In Europe, spot gold was bid at $1,216.45 an ounce early trade as against $1,218.00 late in New York on Friday.
Silver spot held steady at $17.35 an ounce.