The domestic gold prices witnessed one of its sharpest intraday falls, by nearly Rs 5,000 per 10 gram on Friday to hit the day's low of Rs 1,21,895, but gained later in the day. The yellow metal prices mirrored the softer trend in international markets where they were down by $127 per troy ounce, as traders reacted to fading expectations of a near-term US Federal Reserve rate cut.