Gold was set for its biggest one-week rise since late 2008 on Friday after a raft of soft economic data battered stock markets, though prices eased from record highs as equity markets and the euro edged off lows in afternoon trade. The metal rallied nearly 3 percent earlier in the day to a record $1,877 an ounce as investors sought refuge from a second day of hefty losses on the stock markets, hurt by deepening concerns over slowing economic growth. Spot gold was up 1.7 percent at $1,853.89 an ounce at 15:41 SA time. It is on track for its biggest one-month rise in nearly 12 years in August and is up 31 percent so far this year. However, it has retraced from earlier record highs as European...
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