Gold gains amid global economy fears

Gold rose yesterday as fears of a slowdown in global economic growth and uncertainty surrounding the US interest rate trajectory bolstered the metal’s appeal ahead of a G20 meeting, with the focus on US-China trade tensions. Spot gold rose 0.3 per cent higher to $1,226.0 per ounce by 0834 GMT. US gold futures were up about 0.4 per cent at $1,227.5 per ounce.

“People are moving some capital into gold at this time, given the uncertainties,” said Brian Lan, managing director at Singapore dealer GoldSilver Central. (Reuters)