Hi, My site links has gone down in GWT. In Aug 1st 2011 it was 3754 and now its showing 2475 only. What could be the reason for this? Please suggest. I working continually on getting backlinks. I am worried.
Where did your links came from? Your links probably not existing anymore if they remove, change site template or not active anymore.
Actually it is something to worry about see, the less links means the less SE prominence and hence a fall in the traffic is expected.
Might be possible that other webmaster removed your link or archived their link pages. Check the status of back links. Also you should compare the Google analytic report of August and today.