Gold gains as global growth concerns dent risk appetite

Gold is considered a safe store of value during economic and political uncertainty.

Gold rose on February 8 as a gloomy global economic outlook dented risk appetite, but a firm dollar stemmed bullion's advance and kept the metal on track for its first weekly decline in three.

Spot gold was up 0.3 percent at $1,313.95 per ounce at 1:54 pm EST (1854 GMT), having recovered from an over one-week low of $1,302.11 touched on Thursday.

US gold futures settled up 0.3 percent at $1,318.50.

"With equities a little lower here, we're getting some flight to safety in gold," said Bob Haberkorn, senior market strategist at RJO Futures.

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