In the national capital, gold of 99.9 and 99.5 percent purity declined by Rs 100 each to Rs 28,950 and Rs 28,800 per ten grams, respectively.
Gold today snapped its biggest eleven-day rising streak this year.
Gold prices Friday zoomed by up to Rs 1,230, the biggest rise in a day this year, to multi-month high in major bullion markets of the country.
Now, the gold has gained Rs 2,600 in the eleven straight sessions, its longest winning streak this year.
Gold vaulted more than 5 percent on Thursday to a one-year high, on track for its biggest daily jump in more than seven years as financial uncertainty, a lower dollar and tumbling stock prices around the world prompted investors to seek refuge in bullion.
Gold shot-up by a whopping Rs 945 or 3.38 percent to end at Rs 28,835 per 10 grams - the level not seen since May 20, 2014.
US gold also rose to its highest in nearly nine months, at USD 1,230.40 an ounce.
At 18-month high, it is the longest winning streak for gold this year.
India remained cautious on gold buying in 2015 as demand remained nearly flat at 848.9 tonnes compared to the previous year, according to the World Gold Council's Gold Demand Trends report.
Gold prices stabilized below a 7-1/2-month high on Wednesday after U.S. Federal Reserve Chair Janet Yellen said that only "gradual" adjustments to monetary policy were likely and stressed that global headwinds could hurt U.S. growth.
The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing. It is normally revised on a fortnightly basis.
The government on Wednesday hiked the import tariff value on gold to USD 388 per 10 grams and that on silver to USD 487 per kg taking cues from global market.
The government has made Permanent Account Number (PAN) card mandatory from January 1, for all transactions of Rs 2 lakh and above.
Global equity markets have been hit by worries over the health of the euro zone banking sector, with a very loose monetary policy seen crimping bank profits and consequently their ability to repay debt.
All you need to know about the today's jewellery shops nationwide strike...
Gold prices on Tuesday regained the Rs 28,000-mark by soaring Rs 710 -- its biggest single-day surge this year -- to trade at its highest level in over one-year on bullish trend in global markets and buying by jewellers.
Gold edged up to near its highest since June on Tuesday, as uncertainty over global growth that has hammered stocks puts the precious metal on course for its longest rally since 2011.
Gold prices surged by Rs 175 to Rs 27,875 per 10 grams at the bullion market today on persistent buying by jewellers, driven by rising wedding season demand even as the metal weakened overseas.
Gold prices surged for the 7th straight day, moving up by Rs 30 to hit nine-month high of Rs 27,700 per 10 grams at Delhi bullion market on Saturday.