World Economy

Gold Higher

Gold HigherGold Higher

Gold edged higher on Wednesday as a further fall in equities and oil burnished bullion’s safe-haven draw, although slow physical demand from Asia kept the metal well under this month’s peak, Reuters reported. Spot gold was up 0.4% at $1,091.06 an ounce. US gold for February delivery gained 0.2% at $1,091.10 an ounce. “Gold’s safe haven rationale is back in vogue,” Gold scaled a two-month high of $1,112 an ounce on Jan. 8 and has traded below that level since, facing resistance at around $1,090 that some analysts attribute to slow Asian physical buying.