Gold advanced amid rising concern over global growth, and as investors awaited fresh developments on U.S.-China trade talks.
White House Council of Economic Advisers Chairman Kevin Hassett said if the partial U.S. government shutdown extends through March, there’s a chance of zero economic expansion this quarter, though “humongous” growth would follow once federal agencies reopen. Meanwhile, China’s vice president Wang Qishan said the world’s second-largest economy has delivered “significant” growth and pledged to the World Economic Forum in Davos, Switzerland, that it won’t falter.
Spot gold +0.2% to $1,284.79/oz at 9:57am in Singapore; -0.2% Wednesday.
Source : Bloomberg