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Gold climbs as global growth concerns stoke safe-haven bids

from Economic Times:

Gold prices jumped sharply in Asia on Monday as worries over the global economic outlook sent investors scuttling towards safe-haven bullion amid a selloff in equities and the dollar.

Asian stocks stumbled to seven-month lows on Monday, while crude oil prices were pinned near a four-year trough. Gold is often seen as an alternative investment to riskier assets such as equities.

Spot gold rose to a near-four-week high of $1,237.30 an ounce before paring some gains to trade up 0.9 per cent at $1,234.20 at 0644 GMT.

US gold futures jumped to $1,238, their highest since Sept. 17. Silver, platinum and palladium

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