Silver, however, edged up modestly on stray buying from industrial users.
Standard gold (99.5 purity) eased by Rs 60 to end at Rs 29,905 per 10 grams from Tuesday's closing level of Rs 29,965.
Pure gold (99.9 purity) moved down by Rs 50 to finish at Rs 30,045 per 10 grams from Rs 30,095.
However, silver ready (.999 fineness) added Rs 20 per kg to conclude at Rs 54,235 from Rs 54,215 previously.
In New York, gold closed higher on optimism over positive US industrial production report.
Gold for December delivery gained USD 4.20 to USD 1,606.60 an ounce on the Comex division of the NYMEX late yesterday.
September silver contracted up by 5 cents to USD 27.81 cents.
