Gold Rises to Three-Month High as China Woes Fuel Haven Demand
- Inflows into exchange-traded products show demand: Commerzbank
- Investors `hiding' from volatility and uncertainty: analyst
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Gold futures climbed to the highest in almost three months after data showed further contraction in Chinese and U.S. manufacturing, boosting demand for the metal as a haven.
China’s official factory gauge signaled conditions deteriorated for a sixth month in January, while a government report Monday showed manufacturing in the U.S. shrank for a fourth consecutive month. Oil’s longest rally this year faltered, adding to demand for gold.