Bengaluru — Gold prices edged lower on Friday but were headed for a third consecutive weekly gain, as the fear over a global economic slowdown and a lack of clarity on the US-China trade war boosted the metal’s safe-haven appeal.
“Markets are looking ahead for the Jackson Hole symposium. In context of recent gains that might give us some corrective pullbacks, as people reduce exposure before event risk.” With the trade saga going nowhere, investors have hedged against a global slowdown by buying safe-haven assets like gold, Japanese yen and US treasuries.
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