 "Gold slides from 9-week high")
Gold prices fell for the first time this year on Friday, after China's measures calmed markets. It was down one per cent at $1,097.30 an ounce at 1053 GMT, while US gold futures for February delivery were down $9.90 an ounce at $1,097.90.
"Concerns over China, and possibly the Middle East, have prompted some safe-haven demand. That has stirred the gold price," Capital Economics analyst Simona Gambarini said.
The precious metal has enjoyed its best week since August, rising almost 4 per cent as global equities and commodities sold off. Gold was the best performer in the Bloomberg Commodity Index, which tracks 22 materials. Gold sank 10 per cent in 2015, its third straight annual drop and worst streak since 2000.
"Concerns over China, and possibly the Middle East, have prompted some safe-haven demand. That has stirred the gold price," Capital Economics analyst Simona Gambarini said.
The precious metal has enjoyed its best week since August, rising almost 4 per cent as global equities and commodities sold off. Gold was the best performer in the Bloomberg Commodity Index, which tracks 22 materials. Gold sank 10 per cent in 2015, its third straight annual drop and worst streak since 2000.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%