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Gold rises on bleak economic outlook, softer dollar

Updated : March 08, 2019 01:56 PM IST

Spot gold was steady at $1,285.17 per ounce as of 0119 GMT. US gold futures were also flat at $1,286 an ounce.
Asian stocks were headed for harm on Friday after the ECB slashed its growth forecasts and launched an emergency round of policy stimulus, leaving investors fearing the worst for the global economy. 
The dollar, which was marginally lower against major currencies, hovered near its new 2019 high of 97.710, posted in the previous session.
Gold rises on bleak economic outlook, softer dollar

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