Gold prices on Monday drifted by Rs 105 to trade at a three-week low of Rs 27,225 per ten grams.
Orders for the festive season abroad begin from next month.
The imitation jewellery market, which is about Rs 8,000 crore, is expected to touch Rs 15,000 crore.
Gold prices fell due to persistent selling by stockists triggered by a heavy sell-off in global markets.
The white metal had gained Rs 200 in the previous session.
Such an economic environment tends to be positive for gold, the ultimate safe-haven asset. Since gold cannot be debased by central banks, it naturally gains in value.
It makes sense to wait for govt schemes such as gold bonds.
Gold and silver have been shining bright in terms of adding to the investors' wealth compared with the other asset class -- stocks -- so far this year.
After demonetisation, demand jumped as many people with unaccounted money bought the yellow metal.
Gold prices on Tuesday drifted by Rs 70 to Rs 27,050 per ten grams at the bullion market owing to slackened demand.
Rising gold prices and continuing investment flow in yellow metal has pushed the size of assets held through gold exchange traded funds to an all-time high of Rs 11,198 crore.
gold prices fell by Rs 210 to Rs 26,600 per 10 grams.
The government on Friday hiked import tariff value on gold to $401 per 10 grams and on silver to $543 per kg in line with global price trends.
Continuing the record-setting spree, gold prices on Thursday climbed to Rs 18,399 per ten gram for April delivery amid weak US dollar.
India's gold obsession needs a correction.
Gold, silver rise on positive global cues.
Traders said low-level buying by stockists and shifting of funds from weakening equity to rising bullion mainly boosted the sentiment.
Silver managed to recover some grounds.
Silver climbed by Rs 600 to Rs 38,700 per kg.
Nearly two-thirds of India's gold demand comes from rural areas where jewellery is a traditional store of wealth for millions who have no access to the formal banking system.
Gold prices dropped Rs 130 to Rs 29,450 per ten gram in the national capital on Tuesday as demand from jewellers and retailers declined at prevailing levels amid a weak global cues.
Retailers are witnessing a surge in demand and expect up to 50 per cent spike in sales volume in this marriage season.
Bullion merchants said sentiments in gold remained extremely weak after it plunged to two-month low in overseas markets as the outlook for higher US interest rates reduced the appeal of the metal as an alternative investment.
WGC expects demand to revive in H2 on surplus monsoon rains
Silver also rebounded by Rs 140 to Rs 37,050 per kg.
Gold prices declined by Rs 30 to Rs 27,370 per ten gram in New Delhi on Friday as demand from jewellers retailers dried up at prevailing levels to some extent amidst a weak global trend.
Traders said continued selling by stockists against slackened demand at prevailing levels mainly kept pressure on gold prices.
Pure gold of 99.9 per cent purity gained by Rs 120 per 10 gm to close at Rs 30,470 from Rs 30,350.
On the other hand, silver rose on good speculative as well as industrial demand.
Tanishq has been pretty much careful to not bet on gold prices.
India's gold demand increased by 19.2 per cent to 76.1 tonne during the April-June quarter this year, largely due to low base effect, owing to the nationwide lockdown that hit economic activity last year, the World Gold Council (WGC) said in a report. The overall gold demand during the second quarter of 2020 calendar year stood at 63.8 tonnes, according to the WGC's 'Gold Demand Trends Q2 2021' report. In value terms, India's gold demand witnessed 23 per cent growth during April-June quarter at Rs 32,810 crore, compared to Rs 26,600 crore during the corresponding period of 2020.
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The current upsurge in gold prices placed the metal to a level last seen on April 10.
Silver fell by Rs 500 to Rs 44,800 per kg on poor offtake by industrial units and coin makers.
Gold prices spurted on the bullion market on Wednesday on sustained buying by stockists influenced by a firming trend in international markets and set a new high at Rs 7,750 per ten gram.
Silver recovered by Rs 100 to Rs 36,950 per kg.
Traders said increased buying of gold by stockists and jewellers to meet the rising festive and marriage season demand, amid firming global trend, influenced the sentiment.
'...you evaluate three key factors before committing your money.'
Spot gold was bid up at $1268.30 in early European trading and silver also moved up at $17.42 an ounce.
Indian gold prices have slipped below Rs 30,000 and still counting on the lower side.
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