Saturday, 14 July 2012

Gold Rises on Equities, Commods Rallies, China Data

Gold rose about 1.5 percent on Friday, boosted by sharp rallies in equities and commodities after data showed that China's economic growth, though slower, was stronger than some had expected.
Friday's rally was the largest one-day gain in three weeks, and it lifted the precious metal to a weekly gain from the loss column.
China's growth rate slowed for a sixth successive quarter to its weakest pace in more than three years, but some economists had anticipated worse because of signs of a slowdown in the United States and Europe.
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