Gold up to $1248 on Flat U.S. Dollar

Gold rose to a one-month high on Tuesday as the dollar edged down slightly and on worries over a slowdown in the global economy after China’s growth eased in the third quarter to its weakest since the 2008/09 financial crisis.

Data showed China’s gross domestic product (GDP) grew 7.3 percent between July and September from a year earlier, down from a 7.5 percent in the second quarter, although slightly above the 7.2 percent forecast by analysts.

Spot gold hit its highest since Sept. 10 at $1,253.70 an ounce in earlier trade and was up 0.4 percent at $1,250.90 by 0940 GMT. U.S. gold futures were up $6.70 an ounce at $1,251.30.

CNBC

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