Gold Drops Below $1225 However Growth Concerns May Support

Gold eased for a second session on Wednesday as the dollar and equities edged up after sharp losses, but lingering worries over the global economy could support the safe-haven metal.

Spot gold had slipped 0.4 percent to $1,227 an ounce by 0344 GMT. The metal hit a four-week peak of $1,237.90 on Tuesday, before paring gains to close the day 0.4-percent lower.

Asian stocks edged up modestly as benign inflation data in China and more gloom in the euro zone economy lent credence to fears of a faltering global economic recovery, while the dollar steadied after sharp losses.

CNBC

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