A mix of positive global indicators and pick-up in local demand because of wedding season rush gave some comfort to gold as prices recovered Rs 60 to Rs 29,350 per 10 grams on Tuesday.
Investors remained bearish on gold exchange-traded funds (ETFs) as they pulled out Rs 775 crore from the instrument in the last fiscal, making it the fourth consecutive financial year of outflow.
Spot gold was down 0.1 percent at $1,252.20 per ounce by 0319 GMT, while US gold futures had dropped 0.2 percent to $1,254.30.
Silver also edged up by Rs 50 to Rs 42,550 per kg on the back of increased offtake from industrial units and coin makers.
Silver followed suit and softened by Rs 100 to Rs 42,500 per kg due to reduced offtake by industrial units and coin makers.
Gold continued its upward march for the third straight day by rising Rs 130 to Rs 29,400 per 10 grams at the bullion market Wednesday on positive global cues and increased buying by local jewellers.
Rising for the second straight session, gold prices inched up by another Rs 20 to Rs 29,270 per 10 grams at the bullion market Monday on sustained buying by local jewellers even as the metal weakened overseas.
Silver too declined by Rs 150 to Rs 42,150 per kg, reflecting a reduced offtake from industrial units and coin makers.
Silver, however, strengthened by Rs 50 to Rs 42,300 per kg backed by increased offtake by industrial units and coin makers.
Gold prices recovered by Rs 200 to Rs 29,550 per 10 grams at the bullion market Wednesday on increased buying by local jewellers on account of 'Navaratras', even as the metal weakened overseas.
Gold bullion investment will rise for the fourth straight year in 2017 as global political and economic factors are forecast to maintain buying interest, CPM Group said on Tuesday.
Gold prices softened by Rs 80 to Rs 29,350 per 10 grams Tuesday, mainly on account of a sluggish trend overseas.
A positive global trend took gold higher by Rs 100 to Rs 29,430 per 10 grams Monday, with local jewellers adding to the tempo.
Gold rose to a near one-month high on Monday as the dollar slid after President Donald Trump`s failure to pass healthcare reform raised doubts over his ability to push through his economic agenda.
An uptick in prices kept a lid on demand for gold in most regions across Asia this week, while in India, an upcoming festival saw jewellers stocking up on the metal.
Silver also edged higher by Rs 125 to Rs 41,375 per kg on uptick in demand from industrial units and coin makers.
Silver also fell by Rs 200 to Rs 41,250 per kg due to reduced offtake by industrial units and coin makers.
Gold prices surged by Rs 300 to 29,350 per 10 grams at the bullion market Wednesday in tandem with a firm overseas trend amid increased buying by local jewellers.
Gold turned cheaper by Rs 100 at Rs 29,050 per 10 grams Tuesday on the back of broadly weak global pointers and diminished interest among local jewellers.
Gold remained in a sweet spot for the second day Monday as the price rose another Rs 150 to Rs 29,150 per 10 grams, making the most of a global uptrend and local jewellers' penchant for the yellow metal.