After falling for two straight days, gold regained its glitter with prices rising by Rs 140 to Rs 29,715 for 10 grams at the bullion market Monday, largely driven by firm trend overseas amid pick-up in buying by jewellers at the domestic spot market.
Gold imports witnessed a fall of about 32 percent to $17.7 billion in April-December of the current fiscal, which is expected to keep a lid on the current account deficit.
Gold prices on Friday fell by Rs 70 to Rs 29,630 per 10 grams, owing to slackened demand from local jewellers even as the metal strengthen overseas.
Amid weak global trend and profit-booking by speculators, gold prices dropped by Rs 176 to Rs 28,615 per 10 grams in futures trade Thursday.
The jewellery industry, which suffered and saw about 80 percent drop in demand following the demonetisation, is slowly recovering, although it may take over a year for things to become normal, market experts said.
Silver followed suit and advanced by Rs 100 to Rs 41,400 per kg on increased offtake from industrial units and coin makers.
Gold prices recovered by Rs 150 to Rs 29,500 per 10 grams at the bullion market on Monday, tracking a firm trend overseas amid fresh buying by local jewellers.
Halting its four-day winning run, gold drifted lower by Rs 100 to Rs 29,350 per 10 gram at the bullion market here today due to weak retail demand.
Gold prices rose further by Rs 200 to hit six-week high of Rs 29,450 per 10 grams Friday on continued buying by jewellers to meet demand from retailers for the upcoming wedding season.
Gold prices on Thursday rose by another Rs 150 to trade at an over one-month high of Rs 29,250 per 10 grams at Delhi bullion market on persistent buying by local jewellers and firming trend overseas.
Gold prices rose for the second straight day Wednesday, gaining Rs 70 at Rs 29,100 per 10 grams amid firm global cues and increased buying by jewellers.
Gold prices on Tuesday reclaimed the Rs 29,000-mark by surging Rs 330 to trade at over one-month high of Rs 29,030 per 10 grams, tracking uptrend in the global bullion market and increased buying by local jewellers.
Gold prices slipped by Rs 40 to Rs 28,700 per 10 grams at Delhi bullion market Monday on weak demand from jewellers even as the metal strengthened in the global market.
Gold prices extended its gains for the second straight week by Rs 435 to close at Rs 28,335 per ten grams.
Gold prices recovered by Rs 30 to Rs 28,740 per 10 grams on scattered buying by local jewellers even as the metal weakened overseas.
After three sessions of gains, gold prices declined by Rs 20 to Rs 28,710 per 10 grams today on easing demand from local jewellers and weak global cues.
Gold prices on Thursday rose by another Rs 180 to a nearly month high of Rs 28,730 per 10 grams, in line with a firming trend overseas amid increased buying by local jewellers.
Rising for the second straight day, gold prices firmed up by Rs 200 to Rs 28,550 per 10 grams Wednesday, driven by a firm global trend and increased buying by local jewellers.
Gold prices edged higher by Rs 50 to Rs 28,350 per 10 grams today, tracking a firm trend overseas amid scattered buying by local jewellers.
At the Multi Commodity Exchange (MCX), gold for delivery in February traded higher by Rs 83, or 0.30 percent, to Rs 27,528 per 10 grams.