KONTAN.CO.ID - JAKARTA. Gold prices rose nearly 1% on Thursday, supported by a weaker dollar and some safe-haven demand as weak U.S. economic readings and hawkish comments from Federal Reserve officials fuelled recession worries. Spot gold gained 0.8% to $1,919.41 per ounce by 10:47 a.m. ET (1547 GMT). U.S. gold futures rose 0.9% to $1,924.60. "There is flight to safety. Gold just seems to do better when markets are declining," said Jeffrey Sica, chief executive officer of Circle Squared Alternative Investments
Gold Rises 1% on Tepid U.S. Dollar, Safe-Haven Inflows
KONTAN.CO.ID - JAKARTA. Gold prices rose nearly 1% on Thursday, supported by a weaker dollar and some safe-haven demand as weak U.S. economic readings and hawkish comments from Federal Reserve officials fuelled recession worries. Spot gold gained 0.8% to $1,919.41 per ounce by 10:47 a.m. ET (1547 GMT). U.S. gold futures rose 0.9% to $1,924.60. "There is flight to safety. Gold just seems to do better when markets are declining," said Jeffrey Sica, chief executive officer of Circle Squared Alternative Investments