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In the international market, gold was quoting lower at USD 1,727 per ounce and silver was flat at USD 24.78 per ounce.

The precious metal had closed at Rs 46,313 per 10 grams on Wednesday.

However, observers cited that even volatility on account of profit booking will likely trigger in bottom fishing, thereby reigniting the up move.

The March contract of Brent on the Intercontinental Exchange (ICE) was at $54.70 a bbl, higher by 0.74 per cent from its previous close.

On the other hand, India's forex reserves continued to rise, indicating, an active Reserve Bank which has kept rupee in a check, to make exports competitive.

At the interbank forex market, the domestic unit witnessed a highly volatile trading session. It opened at 73.45, pared the gains and finally closed at 73.81 against the greenback.

Silver, however, rose Rs 126 to Rs 63,427 per kg, from Rs 63,301 per kg in the previous trade