New Delhi, May 1 -- Gold dropped to a two-week low on Thursday, pressured by signals of softening trade tensions and a holiday in top consumer China, while focus was also on Friday's U.S. payrolls report to gauge the economic outlook.

Spot gold was down 2.2% at $3,216.41 an ounce, after hitting its lowest since April 14 earlier in the session. Prices hit a record $3,500.05/oz last week.

U.S. gold futures were down 2.8% at $3,226.90. Back home, gold futures last traded 2.66 per cent lower at Rs.92,350 per 10 grams on the multi commodity exchange (MCX). MCX gold futures trades over Rs.7,000 lower than its record-high of Rs.99,358. Spot silver fell 1.3% to $32.15, platinum lost 1.2% to $954.85, and palladium gained 0.4% to $941.14.

"There...