Weekly Fundamentals – Gold Strengthened Further as Chinese Growth Deteriorated, Fed Rate Hike Speculations Tamed

Gold’s rally continued for a second week, with the benchmark Comex contract gaining +4.20%. Despite a fragile fundamental outlook, the yellow metal benefited from renewed safe haven demand driven by concerns over China’s growth deterioration, problems in other emerging market, as well as the soft recovery prospect in developed markets such as Japan and the Eurozone.

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Weekly Fundamentals – Gold Strengthened Further as Chinese Growth Deteriorated, Fed Rate Hike Speculations Tamed