Lates News

Gold rebounded after setting a six-month record single-week decline, intensifying concerns about the US economic outlook and budget deficit, boosting demand for safe-haven assets. Spot gold rose as much as 1.3% to around $3,245 per ounce in early Asian trading. Earlier, Moody's announced on Friday night that it was downgrading the US government's highest credit rating from Aaa to Aa1, blaming it on the failure of previous administrations to reduce the budget deficit.