Precious Metal
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Gold fell around 2 percent on Friday, its biggest one-day drop in over three weeks as funds dumped bullion after resilient US jobs data suggested the Federal Reserve could begin to scale back its monetary stimulus later this year.
The metal posted its first weekly drop in two weeks after Friday's selloff more than erased gains earlier this week. A sharp dollar drop and strong physical demand had lifted gold above $1,400 an ounce for most of this week. For the week, bullion eased 0.3 percent.
Spot gold was down 2.1 percent at $1,383.96 an ounce by 2:28 p.m. EDT (1828 GMT), having hit a low of $1,377.29, the lowest since May 28.
Despite the sharp pullback in prices, trading volume was about 15 percent below its 30-day average, preliminary Reuters data showed.
Base Metals & Energy
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However, metal's gain at the London Metal Exchange, limited the fall
The metal for delivery in June shed 20 paise, or 0.18 per cent, to Rs 108.75 per kg, with a business turnover of 1,455 lots.
Lead prices fell by 0.327 per cent to Rs 125.30 per kg in futures trade today as speculators reduced exposures on subdued spot demand and a weak trend overseas.
The metal for delivery in July also fell by a similar margin to Rs 125.30 per kg in with a business volume of 157 lots.
Agro Outlook
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Besides, restricted arrivals from producing regions also supported the rise in prices, traders said.
The spice for July delivery rose by Rs 5.80, or 0.80 per cent, to Rs 726 per kg, with a business volume of 841 lots.
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