India, May 9 -- Gold futures showed a strong move to the upside during trading on Friday, regaining ground following the sharp pullback seen over the previous sessions.
Gold for May delivery jumped $38.80 or 1.2 percent to $3,335.40 an ounce but still closed well off the record closing high of $3,411.40 an ounce set on Tuesday.
The price of gold surged by $103.50 or 3.2 percent for the week, snapping a two-week losing streak due to the sharp increases seen to start the week.
The rebound by the price of the precious metal came amid a pullback by the value of the U.S. dollar, with the U.S. dollar index slipping by 0.3 percent after reaching its highest levels in a month during Thursday's session.
Gold also benefitted from its appeal as a ...