Silver, on the other hand, surged on heavy speculative buying on the back of consistent industrial demand.
Standard gold (99.5 purity) declined by Rs 90 per 10 grams to end at Rs 31,170 from Wednesday's closing level of Rs 31,260.
Pure gold (99.9 purity) also fell by a similar margin of Rs 90 per 10 grams to conclude at Rs 31,305 from Rs 31,395.
Silver ready (.999 fineness) strengthened by Rs 400 per kg to finish at Rs 61,930 from Rs 61,530 yesterday.
In Europe, gold rose breaking four-day losses following recovery in euro, though speculation over Spain seeking bailout capped the yellow metal's gains.
Spot gold was bid up at USD 1,769.74 an ounce (28.3 gm) in early trade and silver also was bid higher at USD 34.22 an ounce.