The rupee had weakened by 2 paise to end at 61.17 in yesterday's trade on late dollar demand from importers amid fresh capital outflows.
He, however, expressed confidence that a series of state-specific alliances, where like-minded parties would come together on an anti-BJP platform, was likely for the 2019 general election.
Silver regained the Rs 35,000 per kg mark by gaining Rs 660.
Traders said heavy selling by stockists against fall in demand at prevailing higher levels mainly kept pressure on gold prices.
A widening probe by US authorities involving top drug companies following complaints of price fixing of generics was a point of worry for the participants, said analysts.
Traders said besides reduced offtake at existing higher levels, weak trend in global markets mainly kept pressure on the prices of precious metals.
Bihar became the first non-NDA state and overall second after the BJP-ruled Assam to pass GST bill.
In line with overall trends, silver ready recovered by Rs 150 to Rs 36,800 per kg and weekly-based delivery by Rs 175 to Rs 36,800 per kg.
Forex dealers said besides capital inflows, selling of the US currency supported the rupee but a lower opening in the domestic equity market and dollar's strength against other currencies overseas capped the gains.
India, the world's largest gold consumer, is likely to resume import of the precious metal this week after a long lull, as global prices have fallen sharply amid signs the United States is unlikely to attack Iraq immediately.
Traders said besides stockists selling, a weakening global trend where gold posted its biggest decline in almost seven months as Portuguese banking concerns eased and equities gained, diminishing safe-haven demand.
Silver dropped by Rs 175 to Rs 34,550 per kg.
This year, India bought 27.7% of the gold exported by Switzerland; in Jan, this was only 15%.
Gold in Singapore, which normally sets price trend on the domestic front, fell from three-month high by declining 0.6 per cent to $1,312.48 an ounce.
Gold in New York, which normally sets price trend on the domestic front, rose by 0.90 per cent to $1,326.90 an ounce and silver by 0.43 per cent to $20.96 an ounce on Monday night.
Silver also rebounded by Rs 360 to Rs 41,770 per kg on increased offtake by industrial units and coin makers.
In Mumbai, gold of 99.9 and 99.5 per cent purity traded at Rs 29,915 and Rs 29,765 per ten gram, while silver enquired at Rs 45,450 per kg.
Gold prices fell by Rs 160 to Rs 30,000 per ten grams in New Delhi on sustained selling by stockists against sluggish demand amid a weak global trend.
In Mumbai, gold of 99.9 and 99.5 per cent purity fell by Rs 160 and Rs 170 to Rs 29,780 and Rs 29,630 per ten grams, respectively; while silver gained Rs 60 to Rs 44,500 per kg.
Traders said stockists selling against fall in demand at prevailing higher levels mainly pulled down gold prices.
Despite optimism by traders, the United Nations expects little oil to flow out of Iraq in the foreseeable future and says many goods ordered previously by Baghdad do not cover emergency war needs.
Dealers attributed the fall in the rupee on Tuesday to dollar's gains against other currencies overseas, but a higher opening in the domestic equity market capped the fall.
The rupee ended at a fresh 18-1/2-month closing high on Wednesday, propelled by strong capital inflows and dollar sales spurred by prospects of earning a good weekend swap differential, traders said.\n\n\n\n
The Congress is seeking to oust the BJP government in Haryana in the October 21 polls.
Protests by various parties could be seen as they demanded the Prime Minister Narendra Modi rolled back the demonetisation scheme.
About 2 million head of cattle are smuggled into Bangladesh annually.
Gold zoomed by Rs 425 to Rs 31,150 per ten grams in the national capital today on frantic buying by stockists and investors on strong global cues.
Much will depend on turnout, with younger Britons seen as more supportive of the European Union than their elders but less likely to vote.
The rupee ended at 47.80/81, up from the previous close of 47.8200/8275
Bullion traders attributed the rise in precious metal prices to emergence of buying by jewellers and retailers driven by ongoing 'Navratras', considered as an auspicious week for making new purchases according to Hindu mythology.
The rupee had lost 26 paise to close at 60.16 against the dollar yesterday on fresh dollar demand from banks and importers in view of the US currency gaining overseas and weakness in local equities.
Modi, who was in France on the first leg of his three-nation tour, said there have been a number of constructive changes in the last five years.
A weak global trend on speculation that signs of a strengthening US economy might reduce demand for the precious metals as safe haven also influenced the sentiment, traders said.
Traders said sentiment turned weak largely in tandem witha weak trend overseas where gold fell to 8-month low after the Federal Reserve raised its interest-rate forecasts this week, strengthening the dollar, reduced the metal demand.
The rupee closed at a new 12-month peak on Monday, riding on a spurt in foreign inflows and a globally weaker dollar.
A Delhi Police head constable, Ratan Lal, was among the nine killed in the violence that erupted on Monday over the amended citizenship law.
The rupee had jumped by 164 paise or 2.39 per cent in previous six trading days.
Traders said sentiment remained weak after gold dropped to a seven-month low and silver slumped to the lowest since June 2013 in global markets as speculation that US borrowing costs will rise sooner-than-expected strengthened the dollar, eroding demand for precious metals as alternative investment.
To make its voice more credible and impactful, the Congress must articulate its alternative agenda for reforms, economic growth and a more inclusive political discourse.
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