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MTECHTIPS;-Gold eyes first weekly gain in five as growth concerns loom
MTECHTIPS-Gold climbed on Friday, as signs of weak global growth rekindled investor interest in the safe-haven metal, keeping it on track for its first weekly gain in five, while a strong dollar ahead of the U.S. GDP data capped gains for the bullion. Spot gold was up 0.1 percent at $1,278.62 per ounce, as of 0334 GMT. The metal rose 0.4 percent so far this week, and is poised for its first gain since the week ended March 22. U.S. gold futures edged up 0.2 percent to $1,280.60 an ounce. Asian shares started timidly after world stocks were weighed down by data from Germany and Asia suggesting that global economy was still under slowdown constraints. "Weak data indicates that the countries may have to undertake monetary easing measures, so that is a boost to gold prices," said Helen Lau, analyst, Argonaut Securities. "Some investors are wanting to switch out of equity markets into the safe-haven asset class," she added. Analysts polled by Reuters deduced that major central banks are done tightening policy especially with the global growth outlook fatiguing across developed and emerging economies along with scant prospects for a
WWW.MTECHTIPS.COM
07489294118-119
MTECHTIPS-Gold climbed on Friday, as signs of weak global growth rekindled investor interest in the safe-haven metal, keeping it on track for its first weekly gain in five, while a strong dollar ahead of the U.S. GDP data capped gains for the bullion. Spot gold was up 0.1 percent at $1,278.62 per ounce, as of 0334 GMT. The metal rose 0.4 percent so far this week, and is poised for its first gain since the week ended March 22. U.S. gold futures edged up 0.2 percent to $1,280.60 an ounce. Asian shares started timidly after world stocks were weighed down by data from Germany and Asia suggesting that global economy was still under slowdown constraints. "Weak data indicates that the countries may have to undertake monetary easing measures, so that is a boost to gold prices," said Helen Lau, analyst, Argonaut Securities. "Some investors are wanting to switch out of equity markets into the safe-haven asset class," she added. Analysts polled by Reuters deduced that major central banks are done tightening policy especially with the global growth outlook fatiguing across developed and emerging economies along with scant prospects for a
WWW.MTECHTIPS.COM
07489294118-119
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