Gold futures on MCX fell 2.27% to Rs 1,45,917 per 10 grams amid broader market selloffs.
Silver contracts dropped 4% to Rs 2,28,806 per kg, continuing a four-week downward trend.
Market volatility is linked to the postponement of high-level US-Iran peace talks in Switzerland.
A stronger US dollar and persistent geopolitical tensions in Lebanon are pressuring precious metal prices.