SINGAPORE: Gold prices dropped in early Asian trade Friday after posting its largest daily percentage gain in more than a week on Thursday as the dollar turned higher against the euro and spurred selling.
Gold for immediate delivery fell 1 percent to $729.45 an ounce at 10:18 a.m. in Singapore. Silver for immediate delivery was down 0.8 percent at $9.365 an ounce
Gold fell to $700.25 on Thursday before bouncing to a high of $736.75 on gains in equities.
December-delivery gold rose 3.3 percent to $728 an ounce in after-hours electronic trading on the Comex division of the New York Mercantile Exchange at 10:16 a.m. in Singapore.
Gold for October delivery in Tokyo gained 2.7 percent to 2,273 yen a gram at the 11 a.m. Tokyo time. Meanwhile, demand for gold jewellery has picked up in India despite a weakening rupee during the wedding season.
