India, May 2 -- Following the notable pullback seen over the past few sessions, the price of gold regained some ground during trading on Friday.
Gold for May delivery climbed $21.90 or 0.7 percent to $3,231.90 an ounce but still slumped by $51.60 or 1.6 percent for the week.
The rebound by the price of the precious metal may have reflected bargain hunting after gold hit its lowest levels in over two weeks on Thursday.
Gold futures may also have benefitted from a decrease in the value of the U.S. dollar, with the U.S. dollar index well off its lows of the day but still down by 0.3 percent.
The increase by gold came despite the release of a closely watched Labor Department report showing U.S. job growth far exceeded economist estimates in...