Silver, however, held steady at Rs 37,100 per kg
Silver also dropped by Rs 1,490 to trade below Rs 40,000 at Rs 39,010 per kg on poor offtake by jewellers and coins makers.
Traders said rebound in gold prices was mostly in tandem with a firming global trend on speculation that prices near a two-month low will spur purchases.
However, silver held steady at Rs 42,600 per kg on scattered enquiries from industrial units.
Silver also advanced by Rs 200 to Rs 36,500 per kg.
Silver regained the Rs 35,000 per kg mark by gaining Rs 660.
Gold prices have come down to Rs 27,790 per 10 grams in the national capital this month from the high of Rs 32,990 per 10 grams in April.
Scattered low level buying by retailers helped gold prices to trade marginally higher.
Globally, gold traded a shade higher at $1,210.15 an ounce.
With gold prices touching their all-time high on Wednesday, jewellery majors were taking measures to attract more consumers. These included more category launches, lower-weight jewellery and store expansion, among others.
Exposure to debt funds and gold is essential even if current returns from these asset classes are low, suggests Sanjay Kumar Singh.
Gold prices rose for the third straight day.
Globally, gold climbed 0.7 per cent to $1,161.85 an ounce in Singapore.
Globally, gold climbed $12.10, or 1 per cent, to $1,220.40 an ounce.
Historically, tensions in West Asian regions have provided support to gold prices.
Silver, however, recovered by Rs 250 to Rs 36,000 per kg.
Continuing its losing streak for the third day, gold prices drifted by Rs 155 to settle at Rs 28,175 per ten gram in the national capital today on sustained selling by stockists, tracking a weakening global trend.
Traders said revival of buying by retailers at existing lower levels led the marginal recovery in gold prices.
Indian retail investors continue to sell gold ETFs.
Silver settled at Rs 37,280 per kg after firming up by Rs 230.
Gold prices were ruling at Rs 26,385 per ten gram at the bullion market while silver was quoted at Rs 34,000 per kg.
Silver also dropped by Rs 550 to Rs 40,350 per kg.
Elevated gold prices have led Indian investors to eye diamonds and platinum as a lucrative investment opportunity.
Traders said reduced offtake by retail customers on sluggish demand at prevailing higher levels kept pressure on gold prices, while silver rose on fresh buying by industrial units and coin makers amid a firming global trend.
Sluggish economy, high bullion prices and consumer shift towards cheaper gifting options such as electronic goods and mobiles have taken the sheen off gold
In domestic market, gold prices had peaked to Rs 39,011 per 10 grams in September and are now ruling at Rs 38,800 per 10 gram.
Silver, however, lost Rs 300 to Rs 61,200 per kg on limited demand at prevailing higher levels.
After losing Rs 270 in the last two sessions, the gold prices fell further by Rs 100 to Rs 28,440 per 10 gm on stockists selling.
Silver staged a comeback by rising Rs 300 to Rs 36,800 per kg,
Sun Pharma was the top loser in the Sensex pack, shedding 2.37 per cent, followed by HCL Tech, Reliance Industries, IndusInd Bank and L&T.
Globally, gold climbed 1.85 per cent to $1,230.70 an ounce.
Despite price correction, policies that support the yellow metal will remain in place in the foreseeable future.
U K Sinha said the equity market also helps in the growth of the Indian economy as the money invested in equities is utilised for infrastructure-building
Gold prices on Friday reached an all-time high of Rs 14,200 per 10 gram in the Delhi bullion and analysts said the trend is likely to continue in the coming days.
Silver met with resistance and fell by Rs 200 to Rs 36,000 per kg.
Globally, gold fell 0.2 per cent to $1,162.25 an ounce in Singapore.
Traders said continued selling by stockists against slackened demand at prevailing levels mainly kept pressure on gold prices.
The S&P BSE Sensex closed 96 points down at 25,105.51 while the CNX Nifty ended 29 points down at 7,511.45.
Banks have swung into action as gold prices continue to slide. Reduced loan-to-value ratio (LTV), cautious lending, and a close monitoring of the gold loan portfolio have prompted them to hedge their loan books against the reduction in prices.
Gold prices rose by Rs 20 to Rs 27,050 per ten grams at the bullion market on Tuesday.
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