After two days of severe declines in the gold price which saw the precious metal fall below its 100 day moving average, the metal regained some ground on Oct. 27 following Catalonia's defiance of Madrid's threats and their vote to declare independence from the Spanish state.
Gold edged higher on Friday, reversing earlier losses after the Catalonian parliament's independence declaration from Spain led investors to seek safety from political upheaval.
Catalonia's declaration was in defiance of the Madrid government, which was preparing to impose direct rule over the region.
Bullion is often used as a safe haven in times of geopolitical and economic uncertainty, while riskier assets such as equities are generally sold off. - Reuters
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