Traders said stockists selling against fall in demand at prevailing higher levels mainly pulled down gold prices.
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.
'There are no jobs, the economy is slowing down, but the BJP is more concerned with issues like triple talaq, anti-Romeo squads and the beef ban.'
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.
Canada is the top supplier of pulses to India, which is expected to import 1 million tonnes more this year.
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.
Even the persistent rise in equity market failed to restrict the rupee's fall.
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 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.
The case goes back to 2014, where the diamond merchant had pleaded guilty, though indirectly, for mis-declaration of exports of diamonds.
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 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.
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.
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
Traders said buying activity in gold picked as stockists enlarged their positions for the rising wedding season demand.
However, silver rose for the third straight session by adding Rs 375 to Rs 48,800 per kg on increased offtake by industrial units and coin makers.
The rupee ended at 47.80/81, up from the previous close of 47.8200/8275
The rupee had plunged 65 paise in its biggest single-day drop in over six months to end at 61.49 in Wednesday's trade against the greenback, hit by spike in dollar demand and negative cues from local stocks.
Retailer bodies to demand govt action against I-Day sales offers, threaten legal action for breach of FDI rules.
The rupee closed at a new 12-month peak on Monday, riding on a spurt in foreign inflows and a globally weaker dollar.
Small and medium enterprises had complained of tedious compliance burden under the Goods and Services Tax
Traders said fresh buying by stockists and jewellers to meet the coming 'Navratras' and marriage season demand amid a strong global trend mainly led the recovery in gold prices.
The India government needs to work on policies that can enhance global trade.
Vaghela said the front 'Jan Vikalp' was floated by some city-based "professionals", who approached him to provide an alternative to the ruling Bharatiya Janata Party and the opposition Congress in Gujarat, and claimed a number of people wanted to see him as the chief minister.
Traders said stockists booking profits at prevailing higher levels following a rise of Rs 350 against sluggish demand mainly kept pressure on gold prices.
Nandi had defeated, by a margin of more than 14,000 votes, Keshri Nath Tripathi who was a five-time MLA, and had served thrice as the Uttar Pradesh assembly speaker and was the BJP's state unit president at that time.
Investors turn cautious ahead of upcoming budget
Rupee rebounds from one-week low, up 9 paise against dollar.
The rupee resumed higher at 59.69 per dollar as against the last closing level of 59.73 at the Interbank Foreign Exchange market.
Lower dollar in the overseas market also boosted the rupee value
A similar trend was witnessed in Mumbai as gold declined on fresh selling while silver held steady in limited deals.
Traders said profit-selling by stockists at prevailing higher levels amid a weak global trend mainly pulled down both gold and silver prices.
Silver also fell by Rs 400 to Rs 41,000 per kg on poor offtake by industrial units and coin makers.
On the domestic front, gold of 99.9 and 99.5 per cent purity slipped by Rs 35 each to Rs 28,330 and Rs 28,130 per 10 grams, respectively. Sovereigns also fell by Rs 100 to Rs 24,300 per piece of eight grams.
Silver also rose sharply by Rs 640 to Rs 35,700 per kg.
The RBI fixed the reference rate for the dollar at 63.8061 and for the euro at 69.6571.
Silver also plunged by Rs 1,430 per kg on poor offtake by industrial units and coin makers.
The currency got support from dollar flows into local equities and greenback sales from state-run lenders.
Silver advanced by Rs 150 to Rs 34,200 per kg on increased offtake.
The rupee closed at 60.76/77 on Tuesday.
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