Gold Rises to $1,291.90 per Ounce on Slow Chinese Growth

Gold rose 0.3 percent or $3.88 to trade at $1,291.90 per ounce on Tuesday, according to Reuters. Part of this rise was due to weak results from a Chinese economic survey that showed the slowest growth in nine years in China’s service sector. The metal’s price increase was capped by a well-performing dollar.

“While many geopolitical hotspots are on the boil, none have managed to keep any sort of bid underneath gold for long,” INTL FCStone analyst Edward Meir told Reuters.

U.S. gold rose $4 to trade at $1,292.50.

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