World Economy

Gold Gains

Gold GainsGold Gains

Gold advanced at the start of the month on Monday, extending gains after ending January with its biggest monthly jump in a year, as poor Chinese manufacturing numbers underlined the weak outlook for the global economy, Reuters reported. Inflows into the world’s largest gold-backed exchange-traded fund were the strongest in a year last month as investors moved into gold due to volatility in other assets including equities. Spot gold was up 0.3% at $1,120.66 an ounce. Bullion gained 5.4% last month, its largest gain since January 2015. US gold for April delivery rose 0.4% to $1,121.10 an ounce.