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Gold Rises for Fourth Day as Weak Data, Virus Boost Haven Demand

  • UBS’s Schnider says U.S. dollar will strengthen next year
  • Goldman Sachs stays bullish as central-bank buying picks up
Gold Production At The JSC Krastsvetmet Precious Metals Plant
Photographer: Andrey Rudakov/Bloomberg
Updated on

Gold rose for a fourth day as investors turned to the haven asset amid concerns over the delta coronavirus variant and weaker economic data.

A gauge of New York state manufacturing moderated in August after expanding at an unprecedented pace a month earlier, while a measure of selling prices advanced to a fresh record. Chinese retail sales and industrial output data showed activity slowed due to fresh lockdowns to contain the Covid-19 outbreak there.