Bengaluru — Gold prices scaled a more than six-month peak on Thursday as worry about a global economic slowdown and volatility in equities boosted safe-haven buying, while a weaker dollar offered support. Spot gold touched its highest since June 15 at $1,290.09, and was trading up 0.3% at $1,288.43/oz at 4.43am GMT. US gold futures were up about 0.5% at $1,290.20/oz. “The weaker dollar lent some support for gold. People are more interested in gold as the stock markets are under pressure and are looking at gold as a safe haven,” said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong. The dollar index fell as much as 0.3%. The Japanese yen, also seen as a preferred asset during times of economic volatility, surged versus the dollar on Thursday. A softer dollar makes US dollar-denominated bullion cheaper for investors holding other currencies. Asian markets recouped losses on Thursday, while US stock futures declined after a rare revenue warning from index heavy-wei...
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