Gold slips on strong China economic data
Spot gold and US gold futures fall but bullion is set to rise more than 1% this week
09 April 2021 - 08:23
Bengaluru — Gold prices fell on Friday as robust economic data from China boosted hopes of a swift recovery, though bullion was set to rise more than 1% on the week as the US dollar and Treasury yields pulled back from recent highs. China’s March factory gate prices rose at their fastest annual pace since July 2018, beating estimates.
Spot gold fell 0.2% to $1,751.86/oz by 4.23am GMT, having hit its highest since March 1 at $1,758.45/oz on Thursday. US gold futures slipped 0.3% to $1,753.40/oz. Still, the metal has gained nearly 1.5% this week, after two weeks of losses...
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