Gold futures traded higher on Monday, after the precious metal booked its worst single-session drop in two weeks Friday, amid signs of economic resilience in the U.S., despite slowing international growth.
February gold on Comex gained $7.20, or 0.6%, at $1,293 an ounce, following a 0.7% fall on Friday, its largest daily drop since Dec. 21, according to FactSet data. For the week, gold futures rose about 0.2%, following gains in each of the last two weeks.
March silver meanwhile, advanced 4 cents, or 0.3%, at $15.83 an ounce, after gold™s sister metal fell 0.1% to end last week, with prices producing a weekly gain of about 2.3%.
Bloomberg
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Hong Kong shares ended the week on a strong note Friday, jumping more than one percent on hopes for a sharp interest rate cut by the Federal Reserve later this month.
The Hang Seng Index added 1.07 percent, or 303.74 points to 28,765.40.
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