Silver also dropped on speculative sell-off amidst lack of industrial support.
Standard gold (99.5 purity) moved down Rs 65 to close at Rs 30,065 per 10 grams from Wednesday's closing level of Rs 30,130.
Pure gold (99.9 purity) slipped by Rs 80 to finish at Rs 30,200 per 10 gm from Rs 30,280 earlier.
Silver ready (.999 fineness) dropped by Rs 390 per kg to conclude at Rs 54,700 as compared to Rs 55,090 previously.
In Europe, gold fell below USD 1,600 an ounce following US Federal Reserve's failure to announce aggressive monetary stimulus in its `Operation Twist' programme.
Spot gold was bid down at USD 1,599.19 an ounce in early trade, while silver too was bid lower at USD 27.92 an ounce.