Gold, silver rise on positive global cues.
gold prices fell by Rs 210 to Rs 26,600 per 10 grams.
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After demonetisation, demand jumped as many people with unaccounted money bought the yellow metal.
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.
Silver managed to recover some grounds.
Silver climbed by Rs 600 to Rs 38,700 per kg.
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.
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.
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.
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.
Silver also rebounded by Rs 140 to Rs 37,050 per kg.
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.
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The current upsurge in gold prices placed the metal to a level last seen on April 10.
Traders said continued selling by stockists against slackened demand at prevailing levels mainly kept pressure on gold prices.
WGC expects demand to revive in H2 on surplus monsoon rains
Tanishq has been pretty much careful to not bet on gold prices.
Silver fell by Rs 500 to Rs 44,800 per kg on poor offtake by industrial units and coin makers.
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.
Silver recovered by Rs 100 to Rs 36,950 per kg.
Gold recovered 0.5 per cent or $2.90 in the end of last week but the chances of further weakening of dollar has cast a shadow on its future price.
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.
