Gold advanced one per cent to $1,212.21 an ounce in Singapore.
Silver also rebounded by Rs 530 to Rs 43,930 per kg on increased offtake by industrial units and coin makers. It had lost Rs 100 on Wednesday.
Gold prices dropped at the bullion market on Thursday on selling by stockists and traders following mute demand due to prevailing high prices and lower global cues.
Traders said sustained selling by stockists against sluggish demand and weakening global trend mainly kept pressure on precious metals.
Gold in Singapore, which normally sets price trend on the domestic front, fell by 0.9 per cent to $1,327.94 an ounce and silver by 1.6 per cent to $20.61 an ounce.
Silver also saw a hefty rise of Rs 900 to Rs 42,100 per kg on increased offtake by industrial units and coin makers.
Gold in New York, which normally sets price trend on the domestic front, rose by 0.90 per cent to $1,326.90 an ounce and silver by 0.43 per cent to $20.96 an ounce on Monday night.
Spot silver rose 0.3 per cent to $15.35 an ounce.
Marketmen said apart from increased buying by jewellers and retailers to meet upcoming festive season demand, a firming global trend on speculation prices near an eight-month low will spur more buying as the US Federal Reserve begins a two-day policy meeting, also boosted the sentiment.
Sentiments remained firm in precious metals on sustained buying by jewellers and retailers to meet ongoing festive season demand.
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.
Gold plunged by Rs 340 to Rs 30,660 per ten grams in the national capital on Friday on fall in demand amid a steep decline in the global markets.
Silver also jumped Rs 950 to Rs 44,750 per kg on increased offtake by jewellers and industrial units.
Silver too advanced by Rs 100 to 38,700 per kg.
The white metal had gained Rs 200 in the previous session.
Globally, gold declined from the highest level.
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.
Traders said scattered buying by retailers amid a firm global trend, where gold climbed to six-month high, and escalating tension in Ukraine mainly boosted demand for the precious metals as a safe haven.
A drop in demand from local jewellers and retailers at current levels weighed on the prices
On the domestic front, gold of 99.9 and 99.5 per cent purity plunged by Rs 220 each to Rs 30,800 and Rs 30,600 per ten grams, respectively.
Gold in New York, which normally sets price trend on the domestic front, fell 0.46 per cent to $1,288.20 an ounce and silver by 0.84 per cent to $20.13 an ounce in yesterday's trade.
Traders attributed the rise in gold prices to increased buying by stockists and retailers to meet the wedding season demand.
Silver also lost Rs 550 to Rs 36,350 per kg on poor offtake by industrial units and coin makers.
Traders said fall in demand from jewellers and retailers at existing levels mainly led to the fall in gold prices but a better trend overseas restricted losses.
Traders said lack of buying support from retailers and jewellers who preferred to keep their activity restricted, anticipating further fall in coming days, mainly kept gold prices unchanged.
Prices registering a whopping 65 per cent growth in domestic markets and a 75 per cent jump in the US.
Silver coins continued to be sought after at the last level of Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.
Bullion traders said sustained buying by jewellery fabricators and retailers to meet the festive season demand mainly kept precious metal prices higher.
Silver climbed by Rs 600 to Rs 38,700 per kg.
Silver also fell for the third day.
Sentiments remained subdued largely in tandem with a weak trend in global markets where gold traded at a four-year low as surging dollar waned demand for the precious metals, traders said.
In London, gold prices eased today, as the euro ran into profit-taking and stock markets dipped.
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.
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.
Traders said selling by stockists amid a weak global trend as a rally in equities dampened demand for an alternative investment amid concern that physical consumption is faltering mainly influenced the sentiment.
Prime Minister Narendra Modi on Sunday suggested that if the Congress comes to power, it would redistribute wealth of people to Muslims and cited former PM Manmohan Singh's remark that the minority community had the first claim on the country's resources.
Globally, gold advanced 0.3 per cent to USD 1,179.35 an ounce in Singapore.
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.
Traders said apart from buying by retailers for the coming festive season, a better trend in the global market mainly led to rise in gold prices.
Gold and silver zoomed to all-time highs in New Delhi on Monday on brisk buying by stockists and jewellers for the upcoming marriage season amid firm global cues.
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