Gold Advances as Data Clouds Rate Outlook Before FOMC Meeting

Gold rebounded from the lowest level in five weeks as conflicting U.S. data clouded the outlook for higher rates before Federal Reserve policy makers meet this week and investors boosted holdings of the metal. Silver surged.

Gold Advances to Week-High as U.S. Jobs Data Clouds Rate Outlook

Gold climbed for a second day after data showing the weakest pace of U.S. hiring in more than a year clouded the outlook for interest-rate increases.

India scraps gold import curbs

Leading gold buyer India has announced it has eased controls on imports of the yellow metal after its current account deficit narrowed sharply.

Global debt concerns lead investors to flee to gold as safe haven

Despite the US Senate coming to an agreement yesterday on raising the debt ceiling and confirmation from credit agencies that the US will not lose its triple-A rating for the time being, stock markets around the globe fell yesterday and investors sought the security of gold.

The precious metal, seen as a sanctuary for investors in times of economic uncertainty, hit another high, peaking at $1,670 an ounce. In addition to concerns about the US economy, investors are worried that eurozone difficulties could intensify further.

Gold price seen rising further by African Barrick Gold

FTSE 100 miner African Barrick Gold expects the price of gold to continue rising because of global economic uncertainty.

The company, the largest producer of the metal in Tanzania, said gold's attraction as a safe haven for investors means prices will grow further despite already clearing record levels of $1,600 per ounce.