World Economy

Gold Firm at $1,230

Gold Firm at $1,230Gold Firm at $1,230

Gold steadied near $1,230 an ounce on Friday, largely holding sharp overnight gains as a drop in US equities stoked fresh safe-haven demand for the metal, Reuters reported. Spot gold eased 0.2% to $1,229.84 an ounce, after gaining 2% on Thursday. For the week, gold is down 0.7%, snapping a four-week winning streak as the metal gave back some gains after climbing to a one-year high last week. On Thursday, US equities snapped a three-day rally, while European equities fell back in a choppy session after climbing to a two-week high earlier in the session.