Gold
held the biggest monthly gain in three years as data from China and the
U.S. that missed estimates added to signs the global economy is
faltering, supporting demand for haven assets.
Bullion
for immediate delivery traded at $1,281.18 an ounce at 9:50 a.m. in
Singapore from $1,283.79 on Jan. 30, when prices completed an 8.4
percent monthly advance for the best start to a year since 2012,
according to Bloomberg generic pricing. The metal climbed on Jan. 22 to a
five-month high of $1,307.62.
Gold
posted the first back-to-back monthly advance in January in a year as
assets in exchange-traded products jumped 4.1 percent, the most since
July 2011. Data this week may show employers in the U.S. continued to
add workers in January, while manufacturing probably moderated. Greek
Prime Minister Alexis Tsipras, in office for about a week, is seeking a
new deal with the government™s creditors amid concern that failure to
reach an agreement may spur the country to quit the euro.
Source: Bloomberg
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