Gold extended an advance from a nine-month low as a retreat in the dollar and global equities boosted demand for an alternative investment. Silver, platinum and palladium climbed.
Gold for immediate delivery rose as much as 0.7 percent to $1,222.47 an ounce, and traded at $1,219.31 at 12:20 p.m. in Singapore, according to Bloomberg generic pricing. The metal dropped to $1,204.57 on Sept. 30, the lowest level since Jan. 2 and within 0.5 percent of erasing this year’s gains.
Data yesterday showed euro-area factories expanded at the slowest pace in 14 months in September and U.S. manufacturing cooled. A measure of factory output in China was unchanged in September from August. Asian stocks fell a fifth day today after U.S. equities tumbled, with the MSCI All-Country World Index dropping yesterday to a five-month low. The Bloomberg Dollar Spot Index retreated from a four-year high today.
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