SINGAPORE - Gold gained for the first time in three days as China's trade data boosted prices of other metals and a resumption in the dollar's weakness boosted investor demand for the precious metal as an alternative asset.
Bullion for immediate delivery rose as much as 0.5 percent to $1,127.25 an ounce, before trading at $1,126.80 at 2:29 pm on Wednesday in Singapore.
Copper rose as much as 0.6 percent after China said it imported 10 percent more copper in February compared with the previous month.
"Gold is getting a small lift from the base metals complex," said Jia Wei, an analyst at Jiangsu Suwu Futures Brokerage Co. The metal is "hovering in the $1,100 to $1,200 range as investors vacillate between liking and avoiding risk".
Bloomberg News
