Print Print edition: 2011-05-07

Silver bounces in Asia

Published Updated

Silver rebounded on Friday from its biggest one-day dollar fall since 1980, and gold also recovered as cheaper prices lured in Asian investors keeping a wary eye on US employment data due later in the day. Spot silver gained nearly 1 percent to $35 an ounce by 0616 GMT, snapping a five-day losing streak. It is still on track for a 27-percent weekly loss, its biggest since the early 1980s.
Spot gold rose by more than 1 percent to $1,486.96 an ounce, headed for a 5-percent drop from a week earlier, its worst week since March 2009. COMEX gold edged up 0.4 percent to $1,487.20 an ounce.