Gold futures surge on weak global equity markets

San Francisco (Jan 24)  Gold futures surged on Thursday, tracking declining global equity markets after some soft economic data from China and on demand growth prospects with reports that India may ease curbs on import of the precious metal. Further, the dollar weakened against a basket of major currencies, making it attractive for holders of foreign currencies, boosted the demand for the precious metal.

Gold futures for February delivery settled up $23.70 at $1,262.30 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold.