Gold gains as growth concerns dent risk appetite | 2019-03-25 | daily-sun.com

Gold gains as growth concerns dent risk appetite

25 March, 2019 12:00 AM printer

BEGNALURU: Gold prices rose on Friday as weak economic data from the euro zone exacerbated fears of a global slowdown, weighing on risk sentiment and putting bullion on track for its best week in nearly two months.

Spot gold climbed about 0.3 per cent at US$1,313.07 per ounce by 1.48pm EDT (1748 GMT), while US gold futures settled 0.4 per cent higher at US$1,312.3, report agencies.

The metal was up nearly one per cent for the week, on track to mark its biggest weekly percentage gain since beginning of February.

"There is some safe demand that has surfaced," said Jim Wyckoff, senior analyst at Kitco Metals.


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