Gold up in Asia October 05, 2013

October 05, 2013

Gold is set for its biggest weekly drop in three weeks but declines have been kept in check by a partial US government shutdown that threatens to hurt economic growth, increasing bullion’s safe-haven appeal. The metal’s 1.2 percent loss for the week so far is largely due to a single massive Comex sell order on Tuesday that sent the price below $1,300 an ounce, but it quickly recovered as the budget impasse in Washington dragged on. On Friday, spot gold gained 0.2 percent to $1,319.30 an ounce by 0620 GMT. Courtesy: Reuters

Published in ZaraiMedia.com