The U.S. grew at a 2.2 percent annualized rate, down from an initial estimate of 2.6 percent, the Commerce Department said Friday. The figure for household consumption was also revised lower.
Slowing American expansion gives the Federal Reserve more room to keep interest rates low, reviving the appeal of precious metals as a store of value. Gold dropped 29 percent in the previous two years as the U.S. economy gained traction, increasing concern that the central bank would raise borrowing costs.
Gold futures for April delivery rose 0.2 percent to settle at $1,213.10 an ounce at 1:37 p.m. on the Comex in New York, after falling as much as 0.5 percent.
sumber : ewfpro.com
