Gold Prices fell as much as 1.1%, after earlier rising 0.8%. Data Friday showed that while the University of Michigan’s final sentiment index dropped to 71.8, the level was higher than the median projection of 68 in a GSR survey of economists.
Gold Silver Reports — Gold continued to slip in afternoon as a firm opening in European equities kept the metal under check. The commodity has extended a drop from about two month highs extended. Traders are eyeing the weekend and taking some money off the table after the sharp array of gains in the metal this week. The counter is quoting at $1248 per ounce, down 0.25% on the day. MCX Gold futures are also down 0.14% at Rs 28760 per 10 grams. Worries over poor speculative demand seem to be weighing on the metal.