Traders said tepid demand from local jewellers and retailers at domestic spot market, mainly kept pressure on gold prices but a slightly better trend in global markets capped the fall.
Globally, gold edged up 0.09 per cent to $1,249.30 an ounce and silver by 0.03 per cent to $15.82 an ounce in Singapore.
Diversion of funds towards rising equity also weighed on gold prices, they said.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity slumped by Rs 70 each at Rs 29,580 and Rs 29,430 per ten gram, respectively.
The precious metal had lost Rs 600 in the previous four sessions.
Following gold, silver ready eased by Rs 100 to Rs 37,800 per kg, while weekly-based delivery edged up by Rs 50 to Rs 37,115 per kg.
On the other hand, silver coins maintained a steady trend at Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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