Gold prices regained some ground on Monday, after dropping the most in three-and-a-half years in the previous session, as data out of China and the US disappointed speculators betting on Chinese demand and an interest rate cut by the Federal Reserve, reports Reuters.
Spot gold was up 0.5 per cent at $2,304.92 per ounce as of 1200 GMT. Meanwhile, US gold futures fell 0.1 per cent to $2,323.20.
Bullion lost about $83 on Friday, declining 3.5 per cent in its biggest one-day drop since November 2020 after a stronger-than-expected US jobs report dented hopes for a September rate cut and news on China's central bank holding off gold purchases put off investors betting on Chinese demand.
Spot silver rose 2.1 per cent to $29.77 per ounce, platinum was up 0.1 per cent at $964.73 and palladium climbed 0.7 per cent to $918.55.
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