Gold rose to a week high as stocks and the dollar fell

                                                                                    INQUIRY

      Gold rose to its highest level in more than a week on Thursday, supported by a slight fall in the dollar and a global stock market pullback, as demand for risky assets cooled.
Spot gold rose 0.2% to $1,276.93 an ounce at 1738 GMT, hitting an intraday high of $1,282.38 since April 16.
U.S. gold futures closed flat at $1,279.70 an ounce.
 
The dollar index fell after rising to its highest level in nearly two years earlier in the session.
The decline in the U.S. stock market has exacerbated the decline in global stock markets. The unexpected deterioration of German and Korean economic data has reignited fears of a global economic downturn, putting pressure on global stock markets.
Gold prices fell below the important psychological barrier of $1,300 an ounce and other key support levels, including the 100-day and 50-day moving average, mainly due to the stronger dollar and better-than-expected recent U.S. and Chinese economic data.
Meanwhile, the holdings of SPDR Gold Trust, the world's largest gold-listed trading fund, fell 0.2% Wednesday to 747.87 tons, the lowest since October 19.
Investors are waiting for the U.S. gross domestic product (GDP) data to be released on Friday, with the U.S. economy expected to grow by 2.1% in the first quarter.


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