Silver also slumped by Rs 1,700 to Rs 37,200 per kg.
Gold slips by Rs 150 on low demand.
Silver also rose further by Rs 100 to Rs 37,600 per kg.
Gold prices are likely to rise by up to Rs 700 per 10 gram in the short term with tapered demand following the government decision to hike import duty on the precious metal, according to jewellers and analysts.
The precious metal had gained Rs 435 in the previous three sessions.
Gold surged by Rs 325 to trade at over three-month high of Rs 27,890 per 10 grams at the bullion market on Thursday.
The precious metal had gained Rs 1,240 in the last eight days.
Cases of arsenic poisoning are on the rise in areas near gold mines in Karnataka.
Gold price recovered a bit on favourable cues from global markets.
Silver coins continued to be traded at last level of Rs 48,000.
While gold gained Rs 320 to Rs 30,545 per ten gram after losing Rs 585 in last four sessions, silver recovered by Rs 390 to Rs 49,330 per kg, snapping Rs 2,260 losses of four days.
Silver also dropped for the fifth straight day and declined further by Rs 375 to Rs 39,250 per kg on reduced offtake by industrial units and coin makers.
Given the economic trends, it might make sense to allocate some savings to gold.
Last year on Dhanteras, the precious metal stood at Rs 31,400 per 10 grams.
Irrespective of the global movement, gold prices in India are nearing the level of Rs 34,000 per 10 grams in the physical markets.
Silver followed suit and traded Rs 90 higher at Rs 38,290 per kg on increased offtake by industrial units and coin makers.
In the July-September period of this year, the domestic demand improved mainly due to Diwali demand and the upcoming marriage season.
Gold remained weak for the second straight day and prices fell by another Rs 190 to Rs 26,810 per ten grams.
Gold gained Rs 50 and touched a new peak of Rs 16,850 per 10 gram.
Silver also rose 0.8 per cent to $16.63 an ounce.
Gold prices fell by Rs 100 to Rs 28,300 per 10 grams at the bullion market on Tuesday.
Silver recovered by Rs 100 to Rs 36,950 per kg.
Silver met with resistance at prevailing levels.
Pre-Diwali Dhanteras sales of gold and silver witnessed a tepid response from consumers on Thursday on account of high prices of the precious metals and sluggish demand due to COVID-19 induced economic hardship, according to jewellers and industry experts. However, jewellers are expecting maximum footfalls on Friday as Dhanteras -- considered the most auspicious day in Hindu calendar for buying items, ranging from precious metals like gold and silver to utensils -- is being celebrated for two days this year.
Gold prices zoomed to an all-time high of Rs 13,850 per 10 gram in the national capital on Wednesday as plunging stock markets and deepening global financial crisis spurred demand for the metal as a safe hedge.
Gold advanced one per cent to $1,212.21 an ounce in Singapore.
Gold and silver extended gains in New Delhi on Monday on sustained buying by stockists, driven by firm global trends.
The government and the Reserve Bank had also imposed certain other restrictions on its shipments, including linking of imports to exports to prevent outgo of the foreign exchange.
Gold demand will go up in the second half of this year.
However, silver coins gained Rs 500 to Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.
While gold surged Rs 200 to Rs 21,420 per 10 gm on rising seasonal demand, silver rose by Rs 1,250 to Rs 54,450 per kg on heavy buying by stockists and industrial units, amid firm global cues.
Globally, gold fell by 1.32 per cent to $1,125.40 an ounce and silver by 3.98 per cent to $14.11 an ounce in New York in yesterday's trade.
.jpg)
Traders said buying activity continued for the third straight day for the ongoing 'Navratras,' an auspicous week in Hindu mythology for making new purchases and marriage season.
Since the Union Budget, gold has become costlier by 8-9 per cent because of a 2.5 per cent increase in import duty to 12.5 per cent and about a 5 per cent depreciation in the rupee.
Generally, it has been seen that commodity prices are driven higher by surging demand throughout the world. But the irony is that the latest surge comes amid concerns about a weaker global economy. At present, commodities prices are rising because the U.S. interest rates are falling below the rate of inflation.
Gold prices on Friday tumbled by Rs 360 to Rs Rs 30,060 per 10 grams in the bullion market on Friday, while silver shed Rs 550 on sluggish demand amid weak global cues.
.jpg)
Silver also recorded a significant rise of Rs 950 to Rs 38,750 per kg.
India is scrambling to crack down on a new gold smuggling tactic that it fears could accelerate a flood of illegal imports of the precious metal into the world's second-biggest buyer.
The Commerce and Industry Ministry is pitching for easing of the gold import restrictions to boost gems and jewellery exports
Gold prices surged by Rs 150 to trade at Rs 17,140 per ten gram in New Delhi on heavy buying due to a steep rise in the metal's prices in the overseas market as the dollar weakened.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances