(RTTNews) - The price of gold advanced in Asian trading Thursday after China reported a surprise jump in its inflation.
China's annual inflation rate accelerated to 4.5 percent in January, beating economists estimates, as consumers spending increased during the Chinese Lunar New Year holiday season.
Gold for April delivery, the most actively traded contract, added $9.70 to $1,741.00 an ounce. Yesterday, gold ended lower as the dollar made marginal gains against a basket of six major currencies
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,277.13 tons.
