Oil fell more than 3 per cent on Monday, hit by weaker Chinese equities and record North Sea crude production data that added to global oversupply concerns
Gold futures on the COMEX division of the New York Mercantile Exchange settled slightly lower after the monthly US jobs report.
The most active gold contract for December delivery on Friday lost $3.10 (0.28 percent) to settle at $1,121.40 per ounce, reported Xinhua news agency.
For the week, the gold futures lost 1.11 percent.
US Department of Labour said employers added 173,000 workers in August, while the unempl .
Amid weak global cues and slackened demand from jewellers and retailers, gold prices drifted by Rs 140 to Rs 26,700 per ten gram at the bullion market today.
Furthermore, recovery in the rupee against dollar, making imports cheaper also influenced the sentiment.
Silver also shed Rs 50 at Rs 35,200 per kg on reduced offtake by industrial units and coin makers.
Traders said the fall in gold prices was mostly in line with a weak global trend where it held at three-week lows as investors weighed whether the US Federal Reserve will raise interest rates at its meeting next week and fall in demand from jewellers and retailers.
Globally, gold fell 0.30 per cent to USD 1,119.40 an ounce and silver shed 0.03 per cent to USD 14.57 an ounce in London.
In the national capital, gold of 99.9 and 99.5 per cent purity plunged Rs 140 each to Rs 26, ..