Gold edges higher as havens rally on growing Evergrande fears

Gold advanced as fears of a spillover from debt woes of Asian real estate developer China Evergrande Group stoked demand for havens, outweighing concerns that the Federal Reserve’s reduction in stimulus could come soon. US equities fell more than 2% as investor angst deepened over China’s real-estate sector and the Fed tapering. The dollar advanced to the highest level in nearly a month while Treasury yields slipped, boosting demand for non-interest bearing bullion.