Silver also extended its slide following heavy speculative unwinding, coupled with weak industrial demand.
Standard gold (99.5 purity) declined by Rs 150 to Rs 30,170 per 10 grams at 1700 hrs from Rs 30,320 last Saturday.
Pure gold (99.9 purity) also moved down by Rs 140 to Rs 30,350 per 10 grams as against Rs 30,490 previously, according to Riddisiddhi Bullions Ltd.
Silver (.999 fineness) dipped by Rs 330 to Rs 46,560 per kg at 1700 hrs from Rs 46,890 last weekend.
Globally, gold prices edged lower in early trade, hovering below a six-month high hit in the previous session as the dollar inched up after anxiety over the Ukraine crisis ebbed for now, ahead of a US Federal Reserve policy meeting.
In London, Spot gold fell 0.3 per cent an ounce to USD 1,362.80 and silver was also down at USD 21.01 an ounce.