Gold prices gain on a dip in Asian equities, global economic slowdown fears

The dollar index was hovering about a one-week peak

Gold prices inched up on Thursday as a dip in Asian equities and worries about a sharp global economic slowdown propelled demand for safer investments.

FUNDAMENTALS
 

Spot gold gained about 0.2 per cent to $1,286.62 per ounce at 0107 GMT, having earlier touched its highest since June 15 at $1,290.09. US gold futures were up 0.4 per cent at $1,288.80 per ounce.
 

The dollar index, which tracks the greenback against a basket of major currencies, was hovering about a one-week peak touched in the previous session.
 

Shares in Asia fell and US stock futures dropped sharply after Apple Inc cut its