WASHINGTON (dpa-AFX) - Gold prices rose on Wednesday to hit over six-month high as growth concerns and waning expectations for Fed policy tightening dented the appeal of the U.S. dollar.
Spot gold climbed 0.7 percent to $1,287.31 an ounce, its highest level since June 15, 2018, while U.S. gold futures were up 0.6 percent at $1,289.25 per ounce.
Global growth worries intensified after a private survey showed that manufacturing activity in China contracted for the first time in 19 months in December.
The Caixin/Markit manufacturing PMI dropped to 49.7 from 50.2 in November amid ongoing trade frictions between the world's two largest economies.
Elsewhere, Eurozone manufacturing PMI stood at 51.4 in December, down from November's 51.8 and the lowest since February 2016, raising concerns over the global growth outlook.
As the U.S. government shutdown enters its 12th day, President Donald Trump has invited Republican and Democratic congressional leaders to a border security briefing later today. However, it was not clear who would attend the meeting.
Looking ahead, Friday's U.S. December jobs report as well as the annual meeting of the American Economic Association, where Fed Chair Powell is interviewed with predecessors Janet Yellen and Ben Bernanke, may offer further clues on the outlook for U.S. interest rates.
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