Gold for December delivery on the MCX was last trading at Rs 29,965, down Rs 193 over the previous days close.
Silver for December delivery on the other hand was trading at Rs 49207, down Rs 821 on the MCX.
Gold is expected to be range bound in the next few trading sessions in the absence of any major cues.
In the international markets a Reuters report has said that in a span of about 4 weeks, gold prices rose to a five-week high of $1,360 last week from $1,280. Check gold rates here