Silver also dropped by Rs 400 to Rs 35,650 per kg.
Silver also slumped by Rs 1,700 to Rs 37,200 per kg.
Gold slips by Rs 150 on low demand.
Gold plunged by Rs 340 to Rs 30,660 per ten grams in the national capital on Friday on fall in demand amid a steep decline in the global markets.
Gold in New York, which normally set price trend on the domestic front, rose by 0.2 per cent to $1,186.20 an ounce and silver by 1.1 per cent to $15.76 an ounce in Thursday's trade.
A moderate GST rate obviates the need for the two-rate structure.
Sentiments remained subdued largely in tandem with a weak trend in global markets where gold traded at a four-year low as surging dollar waned demand for the precious metals, traders said.
Traders said lack of buying support from retailers and jewellers who preferred to keep their activity restricted, anticipating further fall in coming days, mainly kept gold prices unchanged.
Tracking a weak trend overseas and low demand from domestic jewellers and retailers, gold prices plunged by Rs 200 to Rs 26,350 per ten gram in New Delhi on Monday.
Traders said emergence of buying at prevailing lower levels by jewellers and retailers mainly supported the upside in prices of precious metals.
Traders said fall in demand from jewellers and retailers due to end of festive season and a weak global trend where gold retreated from a six-week high as investors expected the Federal Reserve to end its bond-buying programme this week, eroding safe-haven demand, mainly pulled down precious metal prices here.
Globally, gold prices slipped by 0.26 per cent to $1,246.20 an ounce in early trade in London.
Gold continued its rising streak for the third day and rose by Rs 20 to Rs 27,860 per ten grams in New Delhi on Friday on festive season demand from jewellers and retailers amid a firming global trend.
Marketmen said increased buying by jewellers and retailers to meet the festive season demand amidst a firming global trend mainly kept precious metals higher.
Gold prices hit one-month lows at the bullion market on Wednesday on sustained selling from stockists and investors in the backdrop of a crash in global market, while silver hit two-and-a-half-year low.
Gold drifted lower by Rs 200 to trade at one-week low of Rs 31,050 per ten grams.
Silver also recovered by Rs 500 to Rs 37,300 per kg.
gold prices fell by Rs 210 to Rs 26,600 per 10 grams.
After Wednesday's rise, gold prices drifted by Rs 190 to close at Rs 27,610 per ten gram in New Delhi on easing demand from jewellers and retailers amidst a weak global trend.
This will encourage exports and discourage non-essential imports such as precious metals
There is a congruence of interests between Ukrainian intelligence and its Western mentors to destroy Wagner and eliminate it from the geopolitical chessboard altogether, argues Ambassador M K Bhadrakumar.
Silver also dropped for the fifth straight day and declined further by Rs 375 to Rs 39,250 per kg on reduced offtake by industrial units and coin makers.
In dollar terms, however, gold prices jumped by 26 per cent this calendar year, following sharp jump in hedge funds' long position
Traders said subdued demand from jewellers and retailers at prevailing levels and a weak global trend led to fall in gold and silver prices.
Silver also dived by Rs 600 to Rs 40,600 per kg.
The precious metal had gained Rs 325 in the previous two sessions.
Gold surged by Rs 325 to trade at over three-month high of Rs 27,890 per 10 grams at the bullion market on Thursday.
In order to check rising current account deficit, the government had raised import duties on the yellow metal to 10 per cent while Reserve Bank of India imposed curbs on import of gold and also laid down various pre-conditions for inward shipments of the precious metal.
Gold prices rose by Rs 190 to Rs 27,190 per 10 grams at the bullion market on Friday.
Gold prices recovered by Rs 100 to trade at Rs 27,200 per 10 gm at the bullion market.
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The precious metal has lost Rs 100 in the past two days.
Giving more freedom to individuals travelling abroad, they may soon be allowed to spend $2 lakh overseas in a year as against the present ceiling of $75,000.
In Mumbai, gold of 99.9 and 99.5 per cent purity traded at Rs 29,915 and Rs 29,765 per ten gram, while silver enquired at Rs 45,450 per kg.
Silver also rose 0.8 per cent to $16.63 an ounce.
Traders said reduced offtake by stockists and retailers at existing higher levels amid a weak global trend as US economic data reinforced concern that the Fed will begin trimming stimulus measures, curbing demand for precious metals as a haven, mainly pulled down the bullion prices.
The slide in gold continued for the second straight day, with prices tumbling by Rs 200 to Rs 28,100 per ten gram at the bullion market on Friday largely in tandem with a weakening trend overseas amid low demand from jewellers.
Gold prices fell by Rs 100 to Rs 28,300 per 10 grams at the bullion market on Tuesday.
The government on Friday hiked import tariff value on gold to $401 per 10 grams and on silver to $543 per kg in line with global price trends.
Indian markets may see some weakness in stocks post Fed hike.
Silver ready rose by Rs 350 to Rs 33,850 per kg.
