Gold Recovers as Chinese Buyers Emerge, Stocks Slump
Gold for immediate delivery fell over 5 percent on Thursday, along with other commodities and global stock markets, a day after Fed Chairman Ben Bernanke said the U.S. economy was strong enough for the bank to wind down its bond-buying program.
While stock markets extended losses on Friday to new 9-month lows, gold edged higher as China, the No. 2 gold consumer after India, snapped up bullion at lower prices, traders said.
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