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Gold steadies on mixed Chinese data, higher equities curb gains
Monday, 15 July 2019 20:28 WIB | PRECIOUS METALS |GOLDEMAS Spot Emas

Gold steadied on Monday after data showed Chinese economic growth slowed to its weakest in about 27 years, while gains in equities curbed appetite for bullion as investors latched onto some positive readings from the world's second-biggest economy.

China's second-quarter annual GDP growth fell to a 27-year low of 6.2% as expected, but its quarterly growth reading of 1.6% beat forecasts. June reports on industrial production, retail sales and urban investment were above expectations.

Spot gold had inched 0.2% lower to $1,412 per ounce, reversing some losses ahead of the data. U.S. gold futures rose 0.4% to $1,418.10.

Meanwhile, Palladium rose 1% to $1,560.60, while silver added 0.8% at $15.34 an ounce. Platinum gained 1.7% to $842.09, marking a one-week high.

Source : Reuters

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