In Delhi, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 100 to Rs 38,570 and Rs 38,400 per 10 grams, respectively.

However, sovereign gold held steady at 28,800 per eight grams.

Globally, gold prices slipped on Monday due to a stronger US dollar and a recovery in equities, as hints of more stimulus from major central banks around the world eased concerns about a recession, reported news agency Reuters.

Gold witnessed selling on positive market sentiment as the rise in global equity indices underpinned demand for safe haven assets, PTI quoted Tapan Patel, senior analyst (commodities), HDFC Securities as saying.

Global equity markets traded firm as Germany and China signalled stimulus measures to support economic recovery, Mr Patel added.

Spot gold was down 0.5 per cent at $1,505.98 per ounce in intraday trade.

US gold futures also fell 0.5 per cent to $1,516.80 an ounce.

Silver ready dropped by Rs 50 to 45,000 per kg, while weekly-based delivery fell by Rs 289 to Rs 43,535 per kg.

Silver coins held flat at Rs 91,000 for buying and Rs 92,000 for selling of 100 pieces.