(MENAFN- ProactiveInvestors)
Gold has started the week firmer - with the yellow metal in the green by 0.3% to US$1218 an ounce in the spot market.
Domestic Australian gold producers are also benefiting from a fall in the local currency and based on the AUD / USD 0.778 this prices gold at over A$1550 an ounce.
On Friday in New York gold ended higher as well after data showed U.S. economic growth braked more sharply than initially thought in the fourth quarter.
This was due to a moderate increase in business inventories and a wider trade deficit but strong domestic demand brightened the outlook.
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