Gold prices on Wednesday declined marginally by ₹25 to ₹34,450 per 10 gram at the bullion market in the national capital on muted demand from jewellers, according to the All India Sarafa Association.
Silver also slumped ₹320 to ₹41,380 per kg on subdued offtake from industrial units and coin makers.
Traders attributed the decrease in the prices of the yellow metal to lackluster demand from local jewellers amid weak trend overseas.
Globally, gold traded lower at $1,313.58 an ounce, while silver was also down at $15.75 an ounce in New York.
In the national capital, gold of 99.9% and 99.5% purities dropped ₹25 each to ₹34,450 and ₹34,300 per 10 gram, respectively.
Sovereign gold, however, held steady at ₹26,100 per piece of eight grams.
Silver ready declined by ₹320 to ₹41,380 per kg, while weekly-based delivery witnessed a fall of ₹322 to ₹40,323 per kg.
On the other hand, silver coins were flat at ₹80,000 for buying and ₹81,000 for selling of 100 pieces.
