SINGAPORE, Mar. 16 -- Gold rose in Asia as the prospects of credit tightening in China triggered a drop in equities, prompting some investors to seek a haven in precious metals.
Immediate-delivery bullion gained as much as 0.3 percent to $1,105.60 an ounce, before trading at $1,104.90 at 2:05 pm in Singapore.
"Gold will be supported as long as uncertainties about the economy remain," said Wu Zhengzheng, an analyst at China International Futures Co (Beijing). "Gold will continue to consolidate in the $1,100 to $1,150 range as investors assess the global recovery."
Silver was down 0.2 percent at $17.0250 an ounce, platinum fell 0.2 percent to $1,603.75 an ounce, and palladium slid 0.5 percent to $460 an ounce.