Gold has moment in spotlight as German jitters take toll
European and Asian shares stepped back from eight-month highs, increasing investors' appetite for gold
Bengaluru — Gold inched higher on Thursday as stock markets retreated from multimonth highs following weak data from Germany, while investors awaited clarity on the progress of US-China trade talks. Platinum jumped more than 1% to its highest since mid-June last year at $887.59 per ounce. Spot gold had risen 0.1% to $1,291.37 per ounce as of 10.12am GMT. US gold futures were unchanged at $1,295.70 an ounce. “The German industrial data is the main market driver this morning,” said ActivTrades chief analyst Carlo Alberto de Casa, adding that falling equity markets were supporting gold. European and Asian shares stepped back from eight-month highs, increasing investors' appetite for bullion. German industrial orders fell at their sharpest rate in more than two years in February, compounding worries that Europe's largest economy had a weak start to 2019. The country's leading economic institutes also slashed their 2019 growth forecasts and warned that the numbers could be much lower sti...
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