Silver, however, recovered modestly on fresh speculative demand from investors.
Standard gold (99.5 purity) went down by Rs 35 to end at Rs 31,950 per 10 gm from last Saturday's closing level of Rs 31,985.
Pure gold (99.9 purity) declined by Rs 40 to finish at Rs 32,090 per 10 gm from Rs 32,130.
However, silver ready (.999 fineness) gained Rs 70 per kg to close at Rs 63,080 as against Rs 63,010 last weekend.
In Europe, gold traded stable consolidating last week's sharp gains after the Federal Reserve's monetary measures weakened the US dollar.
Spot gold was bid steady at USD 1,768.70 an ounce in early trade, while silver was bid down at USD 34.49 an ounce.
