Gold fell early on Thursday as investors cautiously watched volatile stock and oil markets for cues, but stayed above USD 1,200 an ounce, drawing some support from flows into bullion funds.
In the national capital, gold of 99.9 and 99.5 percent purity bounced back by Rs 190 each to Rs 29,100 and Rs 28,950 per ten grams respectively.
India`s imports of the metal are expected to drop to 25 tonnes in February, according to a median of estimates from five industry participants, including bank dealers and traders.
In the national capital, gold of 99.9 percent and 99.5 percent purity fell further by Rs 60 each to Rs 28,910 and Rs 28,760, respectively. The precious metals had lost Rs 320 in the last two days.
Gold prices fell by Rs 280 to crack below the Rs 29,000 mark to Rs 28,970 per ten grams at Delhi bullion market Monday, tracking a weak trend overseas amid subdued demand from jewellers at domestic spot market.
After yesterday's surge, gold declined by Rs 40 to Rs 29,250 per ten grams at the bullion market today, owing to slackened demand from jewellers and retailers amid weak overseas cues.
Riding on a firm global trend and strong demand from domestic jewellers, gold prices shot up by Rs 540, topping the 29,000-mark again, to close at Rs 29,290 per 10 grams.
In the national capital, gold of 99.9 and 99.5 percent purity declined by Rs 100 each to Rs 28,750 and Rs 28,600 per ten grams, respectively.
The precious metal had lost Rs 1,015 in the last three days.
In the national capital, gold of 99.9 and 99.5 percent purity tumbled by Rs 315 each to Rs 28,635 and Rs 28,485 per ten grams, respectively. The precious metal had lost Rs 700 in last two days.
At the Multi Commodity Exchange (MCX), gold prices for delivery in April contracts plunged Rs 241 or 0.84 percent to Rs 28,449 per 10 grams.
Spot gold fell 1.5 percent to USD 1,191.40 an ounce, after earlier hitting a session low of USD 1,190.40.
Driven by dip in global prices, India's gold imports increased by 85.16 percent to USD 2.91 billion last month.
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.