Silver also declined Rs 160 to Rs 37,240 per kg on reduced offtake by industrial units and coin makers.
Traders said a weak global trend where gold slumped from a three-month high amid a drop in demand from jewellers and retailers at existing levels mainly put pressure on the precious metal prices.
Globally, gold in Singapore, which normally determines domestic price trend, fell 0.6 per cent to USD 1,176.16 an ounce and silver shed 0.6 per cent to USD 16.03 an ounce.
In line with the overall trend, the sovereign also retreated by Rs 100 to Rs 22,400 per piece of eight grams.
Silver ready declined Rs 160 to Rs 37,240 per kg and weekly-based delivery by Rs 200 to Rs 37,350 per kg.
Silver coins too traded lower by Rs 500 to Rs 52,000 for buying and Rs 53,000 for selling of 100 pieces.