Gold up for 2nd day on Chinese data renews growth concerns

Gold rose for a second session on Monday, as slowing economic growth in China and weakness in Asian stock markets lifted the safe-haven appeal of the precious metal.

Spot gold gained 0.6 percent to $1,281.40 an ounce by 0729 GMT, while U.S. gold futures added 0.8 percent to $1,282.90 an ounce.

Gold has gained around 20 percent this year after weak economic data in the United States and elsewhere eased expectations of a near-term increase in U.S. interest rates.

Among other precious metals, spot silver advanced 1.4 percent to $17.240 an ounce, platinum was up 0.8 percent at $1,056.20 while palladium rose 0.8 percent to $593.97.

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Posted in: Indian Market Tips