Source:
https://scmp.com/business/commodities/article/1218738/gold-claws-back-ground-asian-buyers-step
Business/ Commodities

Gold claws back ground as Asian buyers step in

Physical demand in India and China rises but holdings in exchange-traded products down

Rising demand from Asia has helped gold prices make up for some of the precious metal's losses earlier this week. Photo: Reuters

Gold climbed, paring a fourth weekly decline, as rising physical demand from Australia to China countered outflows from exchange-traded products. Silver headed for the worst week in almost 19 months.

Spot gold rose up to 2.6 per cent to US$1,426.05 an ounce but fell back to US$1,404 at about 3pm in London. Prices slumped to US$1,321.95 on Tuesday, the lowest since January 2011.