Gold held an advance as investors weighed the outlook for growth after stocks in Asia followed their U.S. counterparts lower.
The global economy is stumbling but not falling over: that’s the analysis of investors, bankers and former policy makers attending the World Economic Forum in Davos, Switzerland, as they argue the expansion is weakening but not by enough to generate a recession.
Also in Davos, billionaire investor Ray Dalio chastised monetary policy makers for an “inappropriate desire” to tighten faster than the capital markets could handle, but expressed hope that they were now looking to shift more slowly.
Spot gold -0.1% to $1,283.97/oz at 9:08am in Singapore; +0.4% Tuesday.
Source : Bloomberg