Bengaluru — Gold prices edged up on Thursday as weak data from Germany and a dip in equities raised flags about the pace of global economic growth, while a firm dollar curbed further gains for the metal. German business morale deteriorated in April, bucking expectations for a small improvement, as trade tensions hurt the industrial engine of Europe’s largest economy, leaving domestic demand to support slowing growth. Spot gold was up 0.1% at $1,276.19/oz, as of 3.35am GMT. US gold futures slipped 0.1% to $1,278/oz. Gold is often used as a hedge against economic and financial uncertainties. The bullion gained for a second straight session, after having dipped to its lowest level since end-December earlier this week. “Global growth data outside the US have been actually quite poor, we haven’t had anything to sink our teeth in,” said Stephen Innes, head of trading and market strategy, SPI Asset Management. “We have also anticipated some correction on the equity markets and that just tu...
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