Gold held near a two-month low on Friday and was headed for its worst week in five, hurt by strong U.S. economic data and fears that the Federal Reserve could hike interest rates sooner than expected.
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As investors await for the decision of the US Federal Reserve to the timeline when it will begin with its tapering of its monthly bond purchases, prices of gold and other minerals saw increases in the financial markets.
China has accounted for as much as 80% of global growth in metal demand in recent years, driven by its extensive investments in infrastructure and real estate projects.
A US regulator subpoenaed major metal warehousing firms after an alleged restriction of material inflated prices.
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