Silver also fell further by Rs 150 to Rs 34,200 per kg on lack of buying support from industrial users and coin makers.
Bullion merchants attributed the steep fall to a weak global trend where it crashed to the lowest level in over five years amid prospects for higher US interest rates which dragged gold prices to this year's lowest level in the national capital.
Gold in Singapore, which normally determines price trend on the domestic front, lost 4.2 per cent to USD 1,086.18 an ounce, the lowest price since March 2010 and silver 2.3 per cent to USD 14.54 an ounce, the lowest since December 2014.
In the national capital, gold of 99.9 and 99.5 per cent purity plunged by Rs 300 each to Rs 25,700 and Rs 25,550 per 10 grams respectively, a level last seen in June 2013.
Tracking gold, silver ready fell by Rs 150 to Rs 34,200 per kg and weekly-based delivery by Rs 600 to Rs 33,600 per kg.
Silver coins nosedived by Rs 1,000 to Rs 49,000 for buying and Rs 50,000 for selling of 100 pieces.