Silver also eased on speculative selling.
Standard gold (99.5 purity) slipped Rs 110 per 10 grams to end at Rs 31,090 from Tuesday's closing level of Rs 31,200.
Pure gold (99.9 purity) also fell by Rs 120 per 10 grams to close at Rs 31,230 from Rs 31,350.
Silver ready (.999 fineness) moved down by Rs 80 per kg to conclude at 62,040 from Rs 62,120 previously.
In New York, gold settled lower on investors' profit selling, following cautiousness over Spain's request for a bailout from euro-zone partners.
Gold for December delivery dropped USD 7.70 to USD 1,775.60 an ounce on the Comex division of the NYMEX late yesterday.
Silver for December contract dipped 28 cents to USD 34.67 an ounce.
