Gold prices rose by Rs 100 to Rs 26,550 per 10 grams at the bullion market on Tuesday.
Silver also lost Rs 550 to Rs 36,350 per kg on poor offtake by industrial units and coin makers.
Portugal's Isaac Nader delivered a stunning upset at the World Athletics Championships, as he claimed a surprise gold medal in the men's 1,500 metres.
Traders said sentiments dampened after gold fell the most in three weeks in overseas markets on speculation that the Federal Reserve would further curb monetary stimulus as the US economy recovers, reducing demand for the metal as an alternative investment.
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In Mumbai, gold of 99.9 and 99.5 per cent purity rebounded by Rs 170 and Rs 190 to Rs 30,650 and Rs 30,520 per ten grams, respectively. Silver jumped by Rs 1,050 to Rs 46,800 per kg.
After recording significant decline in September, gold and silver imports jumped by 62.5 per cent to $1.3 billion in October this year.
Jaismine Lamboria (57kg) and Minakshi Hooda (48kg) carved their place in Indian boxing history by clinching titles with hard-fought wins at the World Championships in Liverpool.
Traders said sentiments remained weak due to fall in demand from jewellers and retailers amidst gold retreating in global markets.
Priyanka Chopra, Tamannaah Bhatia, Khushi Kapoor turned the Bvlgari showcase into a star-studded style spectacle.
Traders said a weakening global trend as the outlook for improving economic growth and strengthening of the dollar curbed demand for the precious metal as a safe-haven mainly kept pressure on gold and silver prices.
Traders said sustained buying by stockists to meet the festive and marriage season demand mainly helped gold prices to extend gains for the second session.
The 18-year-old Sairam and the 32-year-old Willson Sing, both from Manipur, train at the Army Sports Institute (ASI) in Pune.
'Customers are coming in; if they aren't buying, they are at least visiting the stores, which was not the case before the Budget.'
Hitesh credited the 10-day preparatory camp in Brazil for India's decent run in the tournament.
Gold, silver shine in Diwali trade on jewellers buying
Globally, in Singapore, gold traded a tad higher at USD 1,182.22 an ounce, from $1,182.01 on Thursday.
Gold prices jumped by Rs 470 to Rs 30,670 per ten gram in the national capital on Monday on brisk seasonal demand amid a firm global trend.
Weak global trend, where gold declined nearly to its lowest level in three months, further dampened the sentiment, they added.
Silver prices also jumped by Rs 500 to Rs 45,000 per kg on increased offtake by jewellery fabricators and industrial units.
Silver also eased by Rs 200 to Rs 37,200 per kg.
Gold plunged by Rs 120 to Rs 30,810 per ten gram, while silver lost Rs 280 to Rs 49,670 per kg on falling demand among industrial units and coin makers.
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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.
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.
Silver also rose 0.8 per cent to $16.63 an ounce.
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.
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.
Gold price softens as demand dips.
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Gold in Singapore, which normally set price trend on the domestic front, fell by 0.28 per cent to Rs 1361.80 and silver by 1.90 per cent to 22.75 dollar an ounce.
After Wednesday's rise, gold prices drifted by Rs 190 to close at Rs 27,610 per ten gram in New Delhi on easing demand from jewellers and retailers amidst a weak global trend.
India's Sarvesh Kushare finished a creditable sixth as he cleared 2.28m -- his personal best in the men's high jump at the World Athletics Championships in Tokyo on Tuesday.
Silver has a dual role - 60 per cent of the total silver produced is used for industrial purposes in the electrical & electronics segment and photovoltaic demand mostly for solar panels.
Gold prices recovered by Rs 50 to Rs 26,800 per 10 grams at the bullion market on Friday.
The final line-up includes strong contenders like Sri Lanka, China, and Kazakhstan, with Sri Lanka boasting of the season's fastest of 3:01.56.
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In line with overall trends, silver ready traded lower by Rs 350 to Rs 36,950 per kg and weekly-based delivery by Rs 480 to Rs 36,945 per kg.
Rajesh Patel, 57, said he collected nearly 70 tolas of gold ornaments, which would be priceless for the victims' kin, Rs 50,000 and a few US dollars from the scene of the deadly aviation tragedy and handed them over to the police.
Traders said the sentiment remained bearish as gold slumped to a five-week low in overseas markets on speculation that the US Federal Reserve will taper asset purchases.
Vijayveer Sidhu won India's fourth gold medal at the ISSF World Cup after he emerged victorious in the men's 25m rapid-fire pistol event in Buenos Aires.
Meghana Sajjanar clinched her first-ever World Cup medal, a bronze, in the women's 10m Air Rifle, as India finished fifth in the season-ending ISSF World Cup Rifle/Pistol in Ningbo, China.
Olympian Ankita Dhyani broke the women's 2000m steeplechase national record while winning gold at the Grand Slam Jerusalem athletics meet in Israel.
While the women scripted history, delivering India's best-ever overseas showing, the men endured a humbling low, returning without a single medal for the first time in 12 years.
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