Bullion climbs amid risk-off sentiment

Source: Marketwatch
© ScanPix/Reuters
Gold prices rose on Friday as the stock market turbulence drives investors into safe havens. The precious metal was also supported by the weakening US Dollar, as the Fed is less likely to hike rates in September. Gold advanced 1.03%, trading at $1,164.10 per troy ounce in early trading session, holding slightly below its six-week high. The rapid growth in bullion prices started two weeks ago when China decided to devalue the Yuan.
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