Gold prices slipped from a three-week high on Monday, losing Rs 315 to Rs 30,885 per 10 grams in New Delhi, on profit-selling at prevailing higher levels.
Traders said sluggish demand due to ongoing 'Shradh' period also influenced the sentiment.
Gold of 99.9 and 99.5 per cent purity plunged by Rs 315 each to Rs 30,885 and Rs 30,685 per ten grams, respectively.
It had climbed to a three-week high of Rs 31,200 in the previous session.
Sovereign also lacked necessary follow-up support and declined by Rs 100 to Rs 25,000 per piece of eight gram.
In line with a general weak trend, silver ready declined by Rs 100 to Rs 49,580 per kg and weekly-based delivery by Rs 20 to Rs 49,580 per kg. The white metal had surged by Rs 1,225 in the previous session.
However, silver coins held steady at Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.