Silver also dropped by Rs 300 to Rs 38,400 per kg.
Gold regained its sheen on Wednesday by soaring Rs 315 to Rs 27,565 per 10 grams at the bullion market.
Traders said sustained buying by stockists and retailers amid a firm global trend where gold advanced as the drop to the lowest level in 34 months last week lured buyers mainly influenced the sentiment.
Silver also gained for the third-day and jumped by Rs 500 to Rs 43,000 per kg on increased offtake by industrial units and coin makers.
After a technology upgrade, the Multi Commodity Exchange of India (MCX) appears poised for an improvement in volumes. The premier commodity and forex exchange reported a loss of Rs 19.1 crore in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24). This was attributed to higher software charges payable under an extended service agreement with 63 moons technologies and a one-off cost towards core guaranteed funds (CGF).
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.
Jitender lost 1-3 to Kaisanov in the summit clash at the KD Jadhav Indoor Stadium.
A weak global trend on speculation that signs of a strengthening US economy might reduce demand for the precious metals as safe haven also influenced the sentiment, traders said.
Buying activity in silver gathered momentum as the metal prices rose in global markets amid fresh buying by stockists and jewellers for the marriage season, traders said.
Industry representatives say the government may be tempted to raise the duty on gold and silver by Rs 100 per 10 gram and Rs 500 per kg, respectively, to earn extra revenue at a time the economy is facing several challenges.
Traders said increased buying by jewellers and retailers, triggered by upcoming festive season, led to recovery in prices of the precious metal.
Silver also spurted by Rs 1,000 to Rs 37,500 per kg.
Gold and silver zoomed to end at new historic highs of Rs 9,500 and Rs 22,950 respectively on the Bullion market in Mumbai on Thursday
Silver also rose 0.8 per cent to $16.63 an ounce.
While gold gained Rs 320 to Rs 30,545 per ten gram after losing Rs 585 in last four sessions, silver recovered by Rs 390 to Rs 49,330 per kg, snapping Rs 2,260 losses of four days.
Gold prices on Friday tumbled by Rs 360 to Rs Rs 30,060 per 10 grams in the bullion market on Friday, while silver shed Rs 550 on sluggish demand amid weak global cues.
Silver also eased by Rs 160 to Rs 41,100 per kg.
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Gold in Singapore, which normally set price trend on the domestic front, fell by 0.28 per cent to Rs 1361.80 and silver by 1.90 per cent to 22.75 dollar an ounce.
Higher silver demand in the world's biggest buyer may help support prices, which have fallen almost 30 per cent this year on the international market.
Gold prices rose further by Rs 210 to Rs 27,210 per ten gram in New Delhi on Wednesday on increased buying by jewellers and retailers to meet upcoming festive and wedding season demand amid a firming global trend.
Traders said sentiments dampened after gold fell the most in three weeks in overseas markets on speculation that the Federal Reserve would further curb monetary stimulus as the US economy recovers, reducing demand for the metal as an alternative investment.
Globally, gold lost 0.4 per cent to $1,274.19 an ounce in Singapore.
On the other hand, silver rose on good speculative as well as industrial demand.
Silver surged by Rs 1,575 per kg on higher speculative and industrial offtake.
While gold surged by Rs 275 to Rs 27,300 per 10 grams, silver gained Rs 295 to Rs 40,730 per kg on increased offtake by jewellers and industrial units.
Gold witnessed its second biggest loss this year of Rs 600 to Rs 27,300 per 10 grams due to reduced offtake amid weak global trend.
Silver advanced by Rs 150 to Rs 34,200 per kg on increased offtake.
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Traders said continued selling by stockists against slackened demand at prevailing levels mainly kept pressure on gold prices.
Silver also dropped by Rs 400 to Rs 35,650 per kg.
Gold prices crashed by Rs 115 per ten gram and silver plunged by Rs 375 per kilo in the bullion market in Mumbai on Tuesday due to heavy stockists' selling after steep fall in the international prices.
Gold for August delivery jumped $8.70 to settle at $1,292.90 an ounce on the Comex division of the NYMEX late on Friday.
Silver followed suit and dropped by Rs 325 to Rs 37,100 per kg.
The government took steps to curb imports of gold after concerns about the country's current account deficit.
Gold zoomed by Rs 425 to Rs 31,150 per ten grams in the national capital today on frantic buying by stockists and investors on strong global cues.
Gold in New York, which normally set price trend on the domestic front, rose by 0.2 per cent to $1,186.20 an ounce and silver by 1.1 per cent to $15.76 an ounce in Thursday's trade.
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Traders said stockists selling in tandem with a weak global trend mainly pulled down gold and silver prices.
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