While gold fell by Rs 220 to Rs 30,300 per 10 grams, silver lost Rs 200 to Rs 53,800 per kg on reduced offtake at existing higher levels.
Traders said sluggish demand at prevailing higher levels amid a weak trend in overseas markets mainly led to the fall in gold and silver prices.
In London, gold declined by USD 1.70 to USD 1,613.20 an ounce and silver by 0.68 per cent to USD 27.81 an ounce.
On the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 220 each to Rs 30,300 and Rs 30,100 per 10 grams, respectively. Sovereigns remained steady at Rs 24,500 per piece of eight grams.
Similarly, silver ready declined by Rs 200 to Rs 53,800 per kg and weekly-based delivery by Rs 410 to Rs 53,785 per kg. Silver coins plunged by Rs 1,500 to Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.