Silver also recorded a sharp fall of Rs 1,000 to Rs 37,400 per kg.
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Silver followed suit and lost Rs 645 at Rs 42,880 per kg on reduced offtake by industrial units and coin makers.
Gold in Singapore, which normally determines price trend on the domestic front, traded a shade higher at $1,310.85 an ounce and silver by 0.70 per cent to $20.56 an ounce in on Tuesday's trade.
Silver met with resistance at prevailing levels.
Bullion traders said besides increased buying by jewellers and retailers to meet festive season demand, a firming global trend amid escalating tensions over Ukraine has raised demand for a safe-haven, resulting into influence on gold prices here too.
Smuggled gold, which is selling sharply lower than the spot market price, is also responsible for discounts not ending. Some consumers are selling high amounts of gold.
Silver traded higher by Rs 250 to Rs 34,400 per kg.
In dollar terms, however, gold prices jumped by 26 per cent this calendar year, following sharp jump in hedge funds' long position
Silver followed suit and traded higher by Rs 200 at Rs 34,200/kg.
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Gold prices fell by Rs 160 to Rs 30,000 per ten grams in New Delhi on sustained selling by stockists against sluggish demand amid a weak global trend.
Silver also traded lower by Rs 100 to Rs 37,200 per kg.
Silver also turned weak and declined by Rs 400 to Rs 42,600 per kg on poor offtake by industrial units and coin makers.
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Silver ready rose by Rs 100 to Rs 37,000 per kg.
Gold in New York, which normally determine a price trend on the domestic front, fell 0.40 per cent to $1,233.70 an ounce in Tuesday's trade.
Gold remained weak for the second straight day and prices fell by another Rs 190 to Rs 26,810 per ten grams.
Gold in New York, which normally sets price trend on the domestic front, rose marginally by 0.02 per cent to $1,255.80 an ounce and silver by 0.18 per cent to $19.06 an ounce in Tuesday's trade.
Sentiments remained bearish as gold fell to 16-week low in the overseas markets as positive US economic data backed the case for the Federal Reserve to keep on reducing monetary stimulus which has dimmed the metal's appeal.
The government on Thursday slashed the import tariff value on gold for the second straight day to $ 414 per 10 grams and silver to $672 per kg, in line with weak global prices of the precious metals.
Gold rises on firm demand, global buoyancy
Silver also eased by Rs 320 to Rs 35,780 per kg.
Silver managed to recover some grounds.
Traders said slackened demand from jewellers and retailers and absence of cues from the global markets as US market are closed today on account of 'Labor Day', kept pressure on gold prices.
Silver regained the Rs 35,000 per kg mark by gaining Rs 660.
Gold prices jumped by Rs 650, its biggest gain since June 20, to close at Rs 26,450 per 10 grams in New Delhi on Saturday on emergence of buying by jewellers and retailers amidst a rebound in global markets.
Bullion merchants said besides increased buying by jewellers and retailers to meet festive season demand, costlier imports due to weakening of the rupee, led to the rise in gold prices.
Silver followed suit and rebounded by Rs 400 to Rs 44,800 per kg on increased offtake by industrial units and coin makers.
Silver dropped by Rs 175 to Rs 34,550 per kg.
The worsening demand for jewellery has already started impacting jobs and karigars or goldsmiths.
In the national capital, gold of 99.9 and 99.5 per cent purity were up by Rs 150 each to Rs 28,500 and Rs 28,300 per 10 gram respectively.
Jewellery stores remained deserted as buyers deferred their non-essential purchases awaiting softness in gold prices.
Traders said besides sustained selling by stockists against subdued demand, strengthening rupee led to persistent fall in prices.
Silver, however, remained steady at Rs 37,200 per kg.
Silver also dropped Rs 560 to Rs 36,440 per kg.
Traders said profit-selling by stockists at prevailing higher levels against sluggish demand mainly led to decline in gold prices.
Silver, however, recovered by Rs 50 to Rs 36,800 per kg
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Traders said sustained selling by stockists in tandem with a weakening global trend mainly kept pressure on precious metal prices.
In line with overall trends, silver ready recovered by Rs 150 to Rs 36,800 per kg and weekly-based delivery by Rs 175 to Rs 36,800 per kg.
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