Silver remained under pressure and declined by Rs 100 to Rs 36,800 per kg. Traders said besides fresh buying by jewellers to meet wedding season demand, a firm global trend mainly contributed to the recovery in gold prices.

Finance Minister Arun Jaitley on Saturday presented his maiden full-year Budget for the 2015-16 financial year in the Lok Sabha. Read the full text of his speech here:

Finance minister Arun Jaitley said, \"I am presenting the union budget in an economic environment which is far more positive than in the recent past. While major economies of the world face difficulties, India is poised for higher growth trajectory.\"

Traders said increased buying by jewellers as well as retailers, triggered by ongoing wedding season and a firming global trend, helped gold to trade higher.

Traders said slackened demand from jewellers and retailers at prevailing levels mainly led to the decline in gold prices.

The World Gold Council forecast demand for gold in both India and China to rise to 900-1,000 tonnes in 2015, but said India was likely to retain its edge.

Silver also regained some lost ground owing to heavy speculative demand as well as good industrial buying support.

A million Indians join the workforce every month. What can Arun Jaitley's Budget and Narendra Modi's Make in India do for them?

Traders said a weak trend in global market before the US Federal Reserve ends a two-day meeting, capped the gains in the precious metal.

In worldwide trade, the yellow-metal retreated from a five-month high on fresh selling pressure amid uncertainty ahead of the Greece election verdict.

Silver prices moved up by Rs 950 to Rs 40,150 per kg on increased offtake by industrial units and coin makers.

Silver also rebounded by Rs 400 to Rs 37,250 per kg on increased offtake by industrial units and coin makers.

Marketmen said scattered buying by jewellers and retailers and firming global trend supported the gold prices in New Delhi.

Silver also gained Rs 300 to Rs 37,300 per kg on increased offtake by industrial units and coin makers.

Traders said a better trend overseas as the dollar fell from a five-year high amid signs of rising physical demand, capped the fall in prices of the yellow metal.

President Vladimir Putin has blamed the rouble's crash on speculators and the West, while a presidential spokesman on Tuesday attributed the market turbulence to \"emotions and a speculative mood\".

Traders said sustained buying by jewellers and retailers to meet rising marriage season demand mainly kept gold prices higher.

The widening of CAD in Q2 was on account of a moderation in export growth, which stood at 4.9 per cent in the period as against 10.6 per cent in the first quarter of FY15.

The industry body says allowing banks to hold the yellow metal as part of their liquidity reserves would motivate them to introduce gold deposit schemes.

An emergence of buying by jewellers and retailers to meet seasonal demand and a firming trend overseas helped gold prices recover, traders said.