Gold futures jumped to the highest in three months Monday, bolstered by the precious metal’s safe haven appeal.
Stock markets in the U.S. were mixed, but dismal economic news from China raised fears about another global recession.
China’s official manufacturing PMI fell to 49.4 in January from 49.7 in December. Manufacturing contracted for the sixth straight month, for the weakest reading since 2012.
Plunging oil prices also caused risk aversion.
US gold for April was up $11.60, or 1%, to settle at $1,128 an ounce.
The material has been provided by InstaForex Company – www.instaforex.com