India, May 6 -- After moving sharply higher over the two previous sessions, the price of gold showed another substantial move to the upside during trading on Tuesday.
Gold for May delivery soared $100.10 or 3.0 percent to $3,411.40 an ounce after spiking $101.30 or 3.2 percent over the course of last Friday and Monday's sessions.
With the continued surge, the price of the precious metal more than offset the weakness seen in the middle of last week, reaching a new record closing high.
The sharp increase by gold futures was partly attributed to renewed buying from China following the Labour Day holiday, which ran from May 1st through 5th.
Gold futures also benefitted from continued weakness in the value of the U.S. dollar, with the U.S. d...