Precious metal speculators look to India this week

May 2, 2014

Mumbai-India (May 2)  With markets in top buyer China closed for a holiday, investors are looking to India, the second biggest consumer, for support.

India is celebrating Akshaya Tritiya on Friday, the second-biggest gold buying festival when it is considered auspicious to buy gold.

Silver, with a 2.4 percent weekly loss, is headed for its worst performance in six weeks. It was up 0.6 percent to $19.12 an ounce. Spot platinum rose 0.2 percent to $1,420.24 an ounce, while spot palladium rose 0.2 percent to $811.50 an ounce.

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