Globally, gold in London was trading 0.58 per cent lower at $1,148.20 an ounce and silver shed 0.24 per cent to $14.75 an ounce.
Traders said stockists selling against sluggish demand at higher levels mainly pulled down both gold and silver prices.
Silver also slipped below the Rs 41,000-mark by falling Rs 525 to Rs 40,975 per kg on reduced offtake by industrial units and coin makers
A drop in demand from local jewellers and retailers at current levels weighed on the prices
For the year as a whole the price is expected to average $1,270, which compares with the year-to-date average of $1,289.
Silver also plunged by Rs 1,300 to Rs 46,000 per kg on poor offtake by jewellery fabricators and industrial units.
Traders said stockists selling against sluggish demand at prevailing higher levels amid weak global trend mainly kept pressure on precious metals.
Bullion traders said sustained buying by jewellery fabricators and retailers to meet the festive season demand mainly kept precious metal prices higher.
Gold imports surged by nearly four-fold to $4.17 billion in October to meet the festival season demand.
Silver also rebounded by Rs 140 to Rs 37,050 per kg.
Gold prices may trade higher in the coming days because of weaker dollar and speculations of US Fed rate cut.
Maruti's strategy for the SUV segment is to arrest the decline in customers for entry level hatchbacks.
Both banks and jewelers sell coins and bars, but it is generally costlier to buy it from a bank
'Valuations are very attractive, and most companies are cash-rich with strong dividend yields.'
Gold imports tick up 10.47% to $2.42 billion in May.
By December 2015, the total imports will touch 1000 tonnes.
Globally, gold gained 0.4 per cent to $1,098.62 an ounce and silver gained 0.9 per cent to $14.95 an ounce in Singapore.
Traders said gold prices surged on hectic buying by stockists for the marriage season and weak rupee against the dollar, making the precious metal costlier.
Traders said stockists selling in line with a weak global trend as stronger dollar reduced appeal for the precious metal, led to decline in gold prices.
To check rising current account deficit, the government has raised import duties and the Reserve Bank of India had imposed curbs on import of the yellow metal and also laid down various pre-conditions for inward shipments of the precious metal.
Custom authorities have been keeping strict vigil on the cargo movements from Bhutan, Taiwan, China, Afghanistan, South Korea Japan, and Dubai since January.
Falling for the sixth straight day, gold prices drifted by another Rs 70 to trade at fresh two-month low of Rs 26,680 per ten grams at the bullion market on Friday, tracking a weak global trend amid slackened demand from jewellers and retailers.
Traders attributed persistent fall in gold prices to easing demand.
Silver traded higher by Rs 250 to Rs 34,400 per kg.
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Traders said reduced offtake by retailers and jewellery fabricators at existing higher levels mainly kept pressure on the prices of both the precious metals.
Gold regained its sheen on Wednesday by soaring Rs 315 to Rs 27,565 per 10 grams at the bullion market.
While gold surged by Rs 275 to Rs 27,300 per 10 grams, silver gained Rs 295 to Rs 40,730 per kg on increased offtake by jewellers and industrial units.
The rupee was trading lower at Rs 61.38 after dipping to 61.74 (intra-day).
Gold imports, which peaked at 162 tonnes in May, came down to 19.3 tonnes in November.
Traders said the precious metals remained in demand for the ongoing festivals and marriage season, while silver rose on industrial units and coin makers demand.
Silver also shot up by Rs 400 to Rs 34,400 per kg.
In Delhi, gold of 99.9 and 99.5 per cent purity zoomed up by Rs 650 each to Rs 27,470 and Rs 27,270 per 10 grams respectively.
Gold prices fell by Rs 50 to Rs 27,800 per ten grams in special Diwali trading in New Delhi on Thursday largely in tandem with a weakening global trend.
Gold cracked as much as Rs 730 -- its biggest one-day fall this year -- to Rs 30,520 per 10 grammes, in sync with a weak trend overseas on growing US rate hike buzz amid a fall in demand at the spot market.
Traders said gains in equities and a stronger dollar dented demand for the precious metals too.
Subdued demand from jewellers in the domestic market and shifting of funds towards the surging stock markets also weighed on gold prices.
Traders said sustained selling by stockists in tandem with a weakening global trend mainly kept pressure on precious metal prices.
Silver also eased by Rs 100 to Rs 39,400 per kg.
The underperforming metal for 2017 expected to return 17-20%
Imports of gold and silver in February 2013 stood at $5.24 billion. In January this year, they were $1.72 billion.
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