Gold Prices Climb on Weakening Asian Equities:
Gold prices inched up Friday morning in Asia, heading towards a fourth straight weekly gain. Driving up demand for the safe-haven asset was a fall in Asian stock markets Friday morning despite a rebound in U.S. stocks overnight.
for December delivery gained 0.16% to $1,234.5 per troy ounce by 11:49PM (03:49 GMT) on the Comex division of the New York Mercantile Exchange.
The also edged up 0.22% to 96.4.
U.S. stocks bounced back on Thursday after a sell-off in the previous session that left some indexes in the red for the year. The gains Thursday were led by companies like Facebook (NASDAQ:) and Netflix (NASDAQ:). The NASDAQ which closed up 2.95% while the and also rose 1.63% and 1.86% respectively.
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