Spot gold moved up 0.2% at $1,296.30 per ounce. Earlier reached $1,298.40, and that was its greatest touch since last June. On Friday Gold scored its highest point in a year while volatile stock markets on the back of soft U.S. data increased fears of global economic retardation. This drove the popular safe-haven metal to a potential third straight weekly profit. Gold has risen over 1% so far this week.
While U.S. gold futures were up about 0.5% at $1,299.50 per ounce.
Sugandha Sachdeva, vice-president of metals, energy and currency research, Religare Broking Ltd said
"Concerns about tepid global economic growth and volatility in risk assets is likely to keep the safe-haven asset - gold - in flavor,"
The Weak up call for US and China
Daily Analysis - 04/01/2019