Gold rose on Friday as investors took refuge in the safe-haven bullion as stock prices tumbled on the back of sliding oil and iron ore prices, but the yellow metal was on track for its biggest weekly decline in nearly six months.
Spot gold rose 0.5 percent to $1,233.10 per ounce as of 0746 GMT.
“Gold has rallied in Asia as traders flee to safe havens following oil and iron ores collapse in Asia today. Nervousness about Chinese growth and OPEC’s next move, if any, will most likely be the front and centre issues to dominate the end of the week,” said Jeffrey Halley, senior market analyst at OANDA.
For Quick Trial – 8962000225 ✔