Gold on Monday fell by Rs 50 at Rs 16,020 per 10 gram in the bullion market on selling by stockists, sparked by a weakening global trend.
Silver also lost Rs 200 to Rs 25,900 per kg on poor demand amid weak global cues.
Marketmen said buying activity was negligible following 'Shraadhh', an ongoing inauspicious fortnight in Hindu mythology.
Gold in London fell from an 18-month high as the dollar rebounded, curbing demand for the precious metal as an alternative investment, which also affected trading, they said.
The metal in spot trading slid 5.21 dollar, or 0.5 per cent, to 999.99 dollar an ounce.
In the domestic market, standard gold and ornaments fell by Rs 50 each at Rs 16,020 and Rs 15,870 per 10 gram, respectively. Sovereign held unchanged at Rs 12,900 per piece of eight gram.
Silver ready fell by Rs 200 to Rs 25,900 per kg and weekly-based delivery by Rs 370 to Rs 26,560 per kg. Silver coins also lost Rs 100 at Rs 31,500 for buying and Rs 31,600 for selling of 100 pieces.
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