Gold edges up after 2-day decline, China concerns support. China's main stock indexes .SSEC .CSI300 each dropped more than 5 percent on Monday. Oil prices fell to new 12-year lows, as concerns over China hurt commodity prices broadly.The chaotic moves have led to worries China's economy may be in for tough time rather than stabilising as some had hoped. China is the world's biggest consumer of gold at around 1,000 tonnes a year.
The yellow metal is often seen as an alternative investment during times of financial uncertainty, although safe-haven rallies tend to be short-lived.
The yellow metal is often seen as an alternative investment during times of financial uncertainty, although safe-haven rallies tend to be short-lived.
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