The Herald descends an escalator and arrives at the reception desk of Guardian Vaults, which bills itself as Australia’s largest and most high-tech secure storage facility.
Gold held onto gains and headed for its first weekly advance since early last month as investors weighed renewed concerns over economic growth.
Bullion’s reversal comes with more economic data fueling fears of a recession. US business activity this month contracted for the first time in more than two years, according to data released on Friday, adding to a slew of indicators earlier in the week that are painting a gloomy outlook. Meanwhile, a gauge of the greenback has retreated from its peak on Thursday last week.
“We are finally starting to see some weakness in the US dollar index, as gold