Gold Nears $1300-Level For The First Time Since Mid-2018

Gold is nearly touching $1300 an ounce for the first time since mid-2018 on the back of fears of a global economic slowdown that gripped global markets, fuelling demand for safe-haven bullion. The price of the yellow metal on January 4 rallied for the third consecutive week.

Spot gold gained 0.3 percent to $1,297.20 per ounce by 0112 GMT, having earlier touched its highest since mid-June at $1,298.34. The metal has risen more than 1 percent so far this week.

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