Gold prices on Thursday declined by ₹270 to ₹34,180 per 10 gram at the bullion market in the national capital, according to All India Sarafa Association.
Silver, however, gained ₹120 to ₹41,500 per kg on increased offtake by industrial units and coin makers.
Traders said, a weak trend overseas resulted in reduced buying by local jewellers which put pressure on the prices of the yellow metal.
Globally, gold traded lower at $1,303.94 an ounce, while silver was down at $15.63 an ounce in New York.
In the national capital, gold of 99.9% and 99.5% purities fell by ₹270 each to ₹34,180 and ₹34,030 per 10 gram, respectively.
However, sovereign gold held steady at ₹26,100 per piece of eight gram.
Silver ready rose by ₹120 to ₹41,500 per kg, while weekly-based delivery gained ₹77 to ₹40,400 per kg.
On other hand, silver coins held flat at ₹80,000 for buying and ₹81,000 for selling of 100 pieces.
