Gold rate, Gold extends gains, equities drop on Europe debt fears
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Gold rate, Gold extends gains, equities drop on Europe debt fears
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Stocks slipped in Asia and the euro fell on anxiety the euro zone's debt crisis will dampen global growth after the Greek government said it will miss a deficit target set just months ago in a massive bailout package.
Spot gold added $9.29 an ounce to $1,632.24 by 0308 GMT. Gold had posted a quarterly gain of 8 per cent -- its biggest this year, despite a drop of 11 per cent for September, its largely monthly decline in three years.
"Gold rises despite a firmer US dollar ... perhaps gold's appeal as a safe haven asset has been reinstated. Also, the market appears to be buying on the dip," said Natalie Robertson, a commodities strategist at ANZ....READ MORE
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