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MTECHTIPS;-GOLD
Gold climbed on Friday, hovering near a two-week high hit in the previous session, as weak U.S.
economic data eased fears that the Federal Reserve could soon wind down its bullion-friendly
bond buying program. A rise in gold-backed exchange-traded fund holdings for the first time in
three weeks also indicated renewed interest in the precious metal -- typically seen as a hedge
against inflation. Outlook: Gold is expected to trade with positive bias after below expected economic data from United states and later it will take cues from US economic data.
economic data eased fears that the Federal Reserve could soon wind down its bullion-friendly
bond buying program. A rise in gold-backed exchange-traded fund holdings for the first time in
three weeks also indicated renewed interest in the precious metal -- typically seen as a hedge
against inflation. Outlook: Gold is expected to trade with positive bias after below expected economic data from United states and later it will take cues from US economic data.
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