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Home / Business / Gold Prices Slip Below Key $ 1,300 Level of Strong China Data, Trade Optimism By Investing.com

Gold Prices Slip Below Key $ 1,300 Level of Strong China Data, Trade Optimism By Investing.com



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Investing.com – The prices of safe-haven gold fell on Monday in Asia and traded below the $ 1,300 key as the release of stronger than expected China trade and credit data on Friday continued to increase appetite risk.

for June delivery, traded on the Comex division of the New York Mercantile Exchange, was down 0.2%, at $ 1.292.15 per ounce at 12:55 ET (04:55 GMT).

The precious metals finished last week basically flat.

The risk sentiment was strengthened by the credit data published by People's Bank of China on Friday, suggesting that growth surpassed all estimates in March.

The trade surplus in March also increased beyond expectations, showing official data, with exports rising more than 1

4% in March from a year ago, exceeding expectations of a 7.3% increase.

The better-than-expected data eased concerns about a global decline in economic growth and provided support for Asian stocks.

China and SZSE component received more than 1% while Hong Kong and Japanese stocks rose 0.5%.

Stocks and other risk remuneration are important contracts for gold.

Investor's sentiment was also strengthened among positive developments in the trade negotiations between China and the United States.

The two sides have agreed on an enforcement mechanism to politicize any trade agreement they agree on in the future, according to reports last week.

"There are certain commitments that the United States enters into this agreement and there are certain commitments that China is," said Secretary of State Steven Mnuchin to reporters on Saturday at IMF meetings in Washington.

"I expect that the enforcement mechanism works in both directions, that we expect to respect our obligations, and if we do not, should be secure influences, and similarly in the other direction," he said, adding that the two countries are considering holding more personal meetings.

In the UK, Brexit headline is expected to silence Wn over the coming week with Parliament on vacation until April 23.

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