Gold rose on hopes that dollar will weaken which will boost the demand for yellow metal. International gold was see at $1,676 an ounce.

Domestically, gold continued to drop on the Multi Commodity Exchange, gold for February delivery was seen trading lower by Rs 34 at Rs 30,183 at 2:10 pm IST.

Silver for March delivery reversed morning gains and was seen trading at Rs 58,910 per kgs, lower by Rs 160.

Delhi spot gold of 99.9 and 99.5% purity was at Rs 31,045 and Rs 30,845 per 10 grams, respectively.

Previous monetary measures helped gold to rally and weakend the dollar as investors changed their focus to bullion.

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