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Gold shines as growth concerns mount

Analysts say gold is seen favourably as growth may be slowing from China to Europe

Published Fri, Jan 2, 2015 · 09:50 PM
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Singapore

GOLD climbed with silver on Friday amid concern that growth may be slowing from China to Europe even as the US recovers, spurring demand for a protection of wealth. Palladium headed for the biggest weekly drop since October.

Bullion for immediate delivery rose as much as 0.6 per cent to US$1,188.46 an ounce and was at US$1,185.81 near midday on Friday in Singapore, according to Bloomberg generic pricing. The metal was headed for a 0.9 per cent weekly loss with the dollar poised for a third weekly advance.

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