Subdued demand from jewellers in the domestic market and shifting of funds towards the surging stock markets also weighed on gold prices.
Silver climbed by Rs 600 to Rs 38,700 per kg.
Silver also drifted by Rs 450 to Rs 37,650 per kg.
Silver also rebounded by Rs 570 to Rs 38,100 per kg on increased offtake.
Gold prices declined by Rs 100 to Rs 28,200 per 10 grams at the bullion market on Friday
In dollar terms, however, gold prices jumped by 26 per cent this calendar year, following sharp jump in hedge funds' long position
Gold lost its sheen with prices falling by Rs 120 to Rs 28,300.
Gold prices drifted by Rs 100 to Rs 28,400 per ten grams at the bullion market today as demand from jewellers and retailers eased at existing levels amidst a weak global trend.
The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing.
Gold remained higher by adding another Rs 70 to Rs 27,550 per ten grams at the bullion market on Tuesday.
Gold prices declined by Rs 50 to Rs 28,270 per ten grams in New Delhi on Monday on slackened demand from jewellers at prevailing levels amid a weak trend in global markets.
Silver also declined by Rs 250 to Rs 35,400 per kg on reduced offtake by industrial units.
Silver also lost Rs 550 to Rs 36,350 per kg on poor offtake by industrial units and coin makers.
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.
Silver followed suit and shed Rs 100 to Rs 36,050 per kg.
After rising for two days, gold prices went down by Rs 100 to Rs 26,850 per 10 grams at the bullion market on Tuesday, tracking a weak global trend amid slackened demand from jewellers.
Silver also dived by Rs 600 to Rs 40,600 per kg.
Silver also dropped by Rs 900 to Rs 42,500 per kg on poor offtake by industrial units and coin makers.
Traders said besides low demand from jewellers and retailers, a weakening global trend -- amid the US employment data and strengthening dollar reducing appeal for the precious metals -- kept pressure on gold prices.
While gold declined by Rs 50 to Rs 28,750 per ten grams, silver dipped by Rs 25 to Rs 42,075 per kg on lack of buying support.
Silver also recovered by Rs 250 to Rs 37,300 per kg.
Traders said sentiment turned somewhat weak after gold fell in global markets ahead of US payrolls data that may show employers added more workers last month, boosting the case for an increase in borrowing costs in the largest economy.
The precious metal had gained Rs 325 in the previous two sessions.
Gold price recovered a bit on favourable cues from global markets.
A moderate GST rate obviates the need for the two-rate structure.
Silver also dropped by Rs 300 to Rs 38,400 per kg.
Gold prices on Monday drifted by Rs 105 to trade at a three-week low of Rs 27,225 per ten grams.
What do the fluctuating gold-silver price ratio portend?
Traders said sentiments remained weak due to fall in demand from jewellers and retailers amidst gold retreating in global markets.
Gold prices on Monday recovered by Rs 25 to trade at Rs 27,475 per 10 grams at the bullion market on pick-up in demand from jewellers.
Gold extended its slump for the second day and shed another ₹ 350 to hit a six-month low of ₹ 29,000 per 10 grams in the bullion market.
Silver also recovered by Rs 500 to Rs 37,300 per kg.
Gold in New York, which normally sets price trend on the domestic front, traded marginally up 0.07 per cent to $1,291.80 an ounce.
Bullion traders said sustained buying by jewellery fabricators and retailers to meet the festive season demand mainly kept precious metal prices higher.
gold prices fell by Rs 210 to Rs 26,600 per 10 grams.
Traders said emergence of buying at prevailing lower levels by jewellers and retailers ahead of the festive and wedding season, a firm global trend mainly led the recovery in precious metals.
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Silver declined by Rs 200 to Rs 38,550 per kg.
Traders said slackened demand from jewellers and appreciating rupee, which made import of precious metal cheaper, weighed on gold prices but a better trend in the global markets restricted the losses.
All goods and services have been put in slabs of 5%, 12%, 18% and 28%
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