Gold up in Asia October 05, 2013

Gold
Gold

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

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