Gold gained as much as 0.9 percent to $1,754.93 an ounce, silver rose 0.8 percent to $36.1550 an ounce

Gold rose for the first day in three, paring its worst weekly performance in more than four months, as concern the world economy will falter stoked demand for haven investments.

Immediate-delivery gold gained as much as 0.9 percent to $1,754.93 an ounce, and traded at $1,745.75 at 10:50 a.m. in Singapore. The metal is down 3.6 percent this week, the biggest drop since the period to May 6, as investors sold the metal alongside global equities and other commodities.

“Gold has been caught up in the overall flight to the exit, but in a normal, sensible world, we should expect to see some support from the fear and trepidation investors are facing,” Nick Trevethan, senior commodities strategist at Australia & New Zealand Banking Group Ltd., wrote in an e-mail.

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Tags: Gold analysis, Gold future prices, Gold futures, Gold investment, Gold news, Gold price, Gold price forecast, gold prices, Silver price, silver prices

Posted by VBN on Sep 23 2011. Filed under Gold. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry