Gold Sees More Gains On Weak Data And Fear – 2 October, 2019

Investors have been moving towards gold as the U.S. dollar faces some declines following weak manufacturing data, helping the precious metal extend its gains. Spot gold was last up 0.1$ to $1,500.59 per ounce, having gained 1.4% the previous session in the largest single day percentage gain in a month, while U.S. gold futures slipped 0.1% to $1,506.04 per ounce. The gains come as fears of a global economic slowdown are heightened, with weaker than expected U.S. job and manufacturing data only adding fuel to the fire.