Gold Slips on Upbeat Factory Data; Palladium Record
Monday, 2 December 2019 20:52 WIB | PRECIOUS METALS |GOLDEMAS
Gold declined after better-than-expected manufacturing data from China and the euro-zone fueled a risk-on mood among investors. Palladium hit a fresh record.
A gauge of China's manufacturing jumped unexpectedly in November, signaling a recovery in activity amid state support. In the euro-zone, factory activityrose to a three-month high. Investors will be looking for clues Monday on the strength of the U.S. economy, with ISM manufacturing and construction spending data due.
Spot gold fell 0.3% to $1,459.24/oz by 8:24am in New York. Prices dropped 3.2% in November, biggest monthly decline since June 2018.
Spot palladium surged 0.5% to $1,850.27. Hit fresh record of $1,856.08 earlier Monday.
Source : Bloomberg
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