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.
Gold drops Rs 110 on macro factors.
As the storm clouds gather over the economy, is there a silver lining? Yes more than one. To see them, we have to stop looking in the rear-view mirror at all the accumulated problems and negative trends, and focus on current trends.
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.
Traders said stockists selling in tandem with a weak global trend mainly pulled down gold and silver prices.
Referring to the base year, the exchange said it was due to stability of shares prices and its proximity to the current period (launch date) prompted it to choose 1978 79 as the base year.
Gold prices recovered by Rs 20 to Rs 26,900 per ten grams at the bullion market in New Delhi on Thursday on the back of wedding season demand from jewellers and retailers even as the metal weakened overseas.
Silver followed suit and eased by Rs 225 to Rs 42,775 per kg on reduced offtake by industrial units and coin makers.
On the domestic front, gold of 99.9 and 99.5 per cent purity surged by Rs 625 each to Rs 31,750 and Rs 31,550 per ten gram, respectively. Sovereign followed suit and rose by Rs 200 to Rs 25,100 per piece of eight gram.
Silver also dropped by Rs 400 to Rs 45,600 per kg on reduced offtake by industrial units and coin makers.
Silver traded lower by Rs 135 to Rs 36,750 per kg.
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The precious metal has lost Rs 100 in the past two days.
The recent round of sell-off is losing momentum and buying is again picking up due to firm marriage season demand.
Gold prices plunged by Rs 220 to Rs 27,350 per ten grams at the bullion market in New Delhi on Thursday, snapping a four-day rising streak, owing to slackened demand at prevailing higher levels amid a weak global trend.
Silver ready ruled flat at Rs 44,600 per kg, while weekly-based delivery shed Rs 80 to Rs 43,780 per kg on lack of speculators' buying support.
Dealers expect prices to fall further, owing to an impending rate hike in the US
In Delhi, gold of 99.9 and 99.5 per cent purity zoomed up by Rs 650 each to Rs 27,470 and Rs 27,270 per 10 grams respectively.
It was a year of stocks shining bright when it comes to adding to the investors' wealth, and the glitter of gold and silver fading for the second straight year in 2013.
Images from the World Athletics Championships in Budapest on Saturday.
Gold in Singapore, which normally sets price trend on the domestic front, traded at $1,316.40 an ounce from $ 1,316.58 on Thursday.
Forty years after its first edition, the world athletics championships get underway in Budapest on Saturday with over 2,000 athletes from 202 countries taking part over nine days of what could be record-breaking action.
Gold on Tuesday eased by Rs 25 to Rs 27,450 per ten grams on favourable cues.
Given prices of the latter are at an all-time high, it makes sense to opt for cheaper precious metals.
The sentiment in gold remained bearish as the metal traded near its lowest level since September, 2010 in global markets.
Gold prices plunged on the bullion market in New Delhi on Wednesday on aggressive offloading by the stockists and traders, sparked by a sharp fall in overseas markets. Silver, too, met with frantic selling pressure due to the prevailing overall trend. Standard gold (99.5 purity) tanked by Rs 305 per ten grams to close at Rs 17,305 from overnight's closing level of Rs 17,610. Pure gold (99.9 purity) dropped by a similar margin to end at Rs 17,395 from Rs 17,700 on Tuesday.
On the domestic front, gold of 99.9 and 99.5 per cent purity plunged by Rs 290 each to Rs 30,310 and Rs 30,110 per ten grams, respectively.
In the overseas markets, which normally sets price trend on the domestic front, gold traded a shade higher by 0.05 per cent to $1,319 an ounce and silver by 0.14 per cent to $20.93 an ounce in New York in Tuesday's trade.
The keenly-awaited Hexa is here, and sports many Tata firsts in its segment.
The imitation jewellery market, which is about Rs 8,000 crore, is expected to touch Rs 15,000 crore.
Traders said sustained buying by stockists helped gold prices to extend gains for the third straight session.
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