Home Business Gold Prices Little Changed as China Growth Data Matches Expectations – Investing.com

Gold Prices Little Changed as China Growth Data Matches Expectations – Investing.com

13 min read
0
45
Loading...
 


© Reuters.

Investing.com – Gold prices were little changed on Monday in Asia after data showed China’s second-quarter growth data slowed to a 27-year low but matched expectations.

for August delivery, traded on the Comex division of the New York Mercantile Exchange were little changed at $1,413.35 by 12:43 AM ET (04:43 GMT).

The prices of the safe-haven asset was little changed after the release of a slew of China data this morning.

The country’s slowed to 6.2% year-on-year in the April-June period, data from the statistics bureau showed on Monday. The figure was in line with expectations but lower than first quarter’s 6.4% year-on-year growth.

Meanwhile, the country’s , and figure all beat forecasts.

Chinese stocks received a boost following the release of the data, but gold prices were little impacted by them today.

Gold prices jumped from $1,200 levels to $1,400 over the past two months amid expectations of an interest rate cut that will likely weaken the dollar and boost the yellow metal.

On the data front, headline inflation at factory gates rose 1.7% from a year earlier in June, topping expectations for a larger drop to 1.6%, reports on Friday showed.

In other news, tensions between China and the U.S. seemingly eased somewhat as Reuters reported that the U.S. may grant licenses for companies to restart sales to Chinese telecommunication equipment maker Huawei in as little as two weeks.

U.S. President Donald Trump and Chinese leader Xi Jinping met last month in Japan and promised to resume trade negotiations.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Let’s block ads! (Why?)


Source link

Loading...
 

Check Also

WeWork Might Be A Zombie Unicorn. SoftBank Should Probably Let ‘WeDead’ Die – Forbes

Loading...   WeWork cofounders Miguel McKelvey (left) and Adam Neumann speak at an ev…