Gold little gained after yesterday fall of near to 0.95% to $1247.60. Retrieving equity market reduced investment in haven asset.
U.S. equity markets closed positive yesterday after falling on below expected result of manufacturing index. Asian markets have also recovery but still Chinese market is on downside. Currencies of emerging economies are appreciating slowly.
Physical demand at Asia is low. At China, largest buyer of Gold, Lunar New Year Holidays decelerated metal demand. At other emerging economies efforts to strengthen currencies may hamper haven assets demand.
From the month beginning there were seen negative economic results at major economies directed investors towards haven assets. On Friday U.S. Non Farm Employment and Unemployment Rate will be released that may further guide metal prices.
At 0800 GMT Gold spot is at $1254.58/ounce up by 0.27%, Silver spot at $19.55 up by 0.55% and Platinum gained 0.32% at $1377.89.