Asian Gold Rebounds May 29 After Thursday's Sharp Plunge

Gold prices across Asia recovered modestly on May 29, with Malaysia rising to MYR 574.85 per gram, Pakistan to PKR 40,230.19, and similar gains in the UAE, Philippines and Saudi Arabia. The rebound follows a steep sell-off on May 28 that sent Malaysia to MYR 558.74 and India to INR 13,515.54 per gram amid renewed dollar strength. Earlier, prices had rallied sharply on May 25 to MYR 580.23 and INR 14,075.33 before consolidating lower. June futures remain near $4,520, leaving gold down 1.5% week-over-week yet up 36.6% year-over-year, supported by persistent central-bank demand.