By William L. Watts, MarketWatch
FRANKFURT (MarketWatch) — Gold futures rose Friday, with buyers finding traction as worries about global growth renewed the metal’s safe-haven appeal.
Comex gold for December delivery GC1Z +0.48% rose $13.30 an ounce to trade at $1.630.70 in electronic action.
A sharp plunge earlier this month amid a global asset rout tied to worries about the deepening euro-zone debt crisis and world growth concerns leaves the yellow metal on track for an 11% monthly fall, according to FactSet Research data.
For the quarter, however, gold is still set for a gain of more than 8%. The metal’s September swoon came amid volatile trading, with December futures trading at a record high above $1,900 early this month before embarking on a plunge that took it below the $1.600 level.
U.S. stock futures pointed to heavy losses for Wall Street on Friday, tracking declines for European and Asian equity markets amid worries over China’s growth prospects. Read Indications.
The HSBC China Purchasing Managers Index showed the manufacturing sector contracted in September for a third straight month. Read about China’s PMI data.
William L. Watts is a reporter for MarketWatch in Frankfurt.
