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Gold price boosted by trade data
(China Daily)
Updated: 2010-03-11 11:02
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SINGAPORE - Gold gained for the first time in three days as China's trade data boosted prices of other metals and a resumption in the dollar's weakness boosted investor demand for the precious metal as an alternative asset.
Copper rose as much as 0.6 percent after China said it imported 10 percent more copper in February compared with the previous month.
"Gold is getting a small lift from the base metals complex," said Jia Wei, an analyst at Jiangsu Suwu Futures Brokerage Co. The metal is "hovering in the $1,100 to $1,200 range as investors vacillate between liking and avoiding risk".
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