Global cues, too, were uninspiring. The yellow metal pulled back from a two-week high to trade lower in global markets as some investors took advantage of the last session’s gain to book profits.
Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.48 per cent to 803.18 tonnes on Wednesday from 799.37 tonnes on Tuesday, Reuters reported.
However, a weaker rupee and subdued equity market capped the fall capped for gold.
Around 10:25 am, MCX Gold traded at Rs 35,085 per 10 grams, down by Rs 5.
Silver prices, on the other hand, jumped on healthy demand by industrial units and coin makers at spot markets.
MCX Silver traded Rs 40,480 a kilo, up by Rs 304, around that time.