Gold prices gained in Asia on Friday in rebound trade from recent lows, though the downbeat trend remains in track on a stronger dollar and growing appetite for riskier investments.
On the Comex division of the New York Mercantile Exchange gold futures for February delivery rose 0.28% to $1,132.95 a troy ounce. Silver futures on the Comex jumped 0.76% to $16.080 a troy ounce. Copper futures rose 0.15% to $2.601 a pound.
Overnight, gold prices fell to the lowest settlement price in 10 months as investors head for risk-on assets over safe-haven holdings such as the precious metal.
A global sell-off in gold exchange-traded funds and weak physical markets in China and India are taking away price momentum.
Indian demand, meantime, has suffered from a liquidity crisis in recent weeks as a massive swap of currency notes is underway that has dried up liqudity in the cash-intensive economy which view with China as the top importer of gold.
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