India, May 15 -- Gold futures showed a strong move to the upside during trading on Thursday, regaining ground following the sharp pullback seen in the previous session.
After tumbling $58.90 or 1.8 percent to $1,181.40 an ounce during Wednesday's session, gold for May delivery jumped $39.30 or 1.2 percent to $3,220.70 an ounce.
The rebound by the price of gold came following an avalanche of U.S. economic data, including a Labor Department report showing producer prices unexpectedly decreased in the month of April.
The Labor Department said its producer price index for final demand fell by 0.5 percent in April following a revised unchanged reading in March.
Economists had expected producer prices to rise by 0.2 percent compared to the 0....