Mumbai: Gold encountered profit-taking at the domestic bullion here on Saturday on moderate selling by investors and stockists as well as subdued retail offtake. (Agencies)
On the other hand, silver rallied on hectic speculative trade, amid strong industrial demand on the back of sharp global commodity rise.
"Investors preferred to take out some profits in the yellow metal after its sharp surge on Diwali Mahurat session and subsequent holidays," traders said.
Standard gold (99.5 purity) declined by Rs 110 per 10 grams to close at Rs 27,490 from Wednesday's closing level of Rs 27,600.
Pure gold (99.9 purity) also slipped by Rs 115 per 10 grams to finish at Rs 27,615 from Rs 27,730.
However, silver ready (.999 fineness) shot-up by Rs 1,230 per kg to conclude at Rs 57,430 from Rs 56,200 previously.
In New York, gold edged lower after its five session surge on better US consumer spending data amid strong dollar.
Gold for December delivery moved down by 50 cents to settle at USD 1,747.20 an ounce at the Comex division of the NYMEX late on Friday.
While, silver for December delivery rose by 18 cents to end at USD 35.29 an ounce.
Mumbai: Gold encountered profit-taking at the domestic bullion here on Saturday on moderate selling by investors and stockists as well as subdued retail offtake.