Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
🚨 NDVA surged 43% - these 3 AI stocks could be next Start Free Trial
Gold down in Asia as China data seen prompting policy response
Published Sep 13, 2015 06:47PM ET
© Reuters. Gold weaker in Asia after China data
Investing.com - Gold prices eased in Asia on Monday at the start of a week that could see the Federal Reserve raise interest rates at a time of mixed economic fortunes for growth in China.
In China at the weekend, data showed fixed asset investment rose 10.9%, just below the 11% seen, while industrial production gained 6.1%, below the 6.4% expected and retail sales rose 10.8%, above the 10.5% seen.
Gold for December delivery on the Comex division of the New York Mercantile Exchange fell 0.20% to $1,105.70 a troy ounce, while silver futures for December delivery declined 0.38% to $14.530 a troy ounce.
Elsewhere in metals trading, copper for December delivery dropped 0.48% to $2.446 a pound.
For the week, copper prices surged 13.6 cents, or 6.12%, as a fresh batch of disappointing Chinese economic data reinforced views that policymakers in Beijing will have to roll out more support measures for the world's second largest economy.
The Asian nation is the world’s largest copper consumer, accounting for almost 40% of world consumption last year.
Last week, gold ended weaker as investors remained mixed over whether the U.S. central bank will hike rates at its meeting next Wednesday and Thursday.
Some traders believe the Fed could postpone raising interest rates this month, as officials are likely to remain concerned over volatility in financial markets due to fears over a China-led global economic slowdown.
Gold fell to a five-and-a-half year low of $1,072.30 on July 24 amid speculation the Federal Reserve will raise interest rates for the first time since 2006 at some point this year.
Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise.
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.