© Reuters. Gold gains in Asia
Investing.com - Gold gained on heighted risk connected to the Korean peninsula, while fell on disappointing figures on manufacturing from China.
Comex rose 0.22% to $1,258.20 a troy ounce, while copepr slipped 1.28% to $2.627 a pound after manufacturing data from China.
In Asia, the from its March policy meeting and policymakers agreed to closely monitor consumer prices because they currently lack upward momentum. The minutes repeated earlier phrasing that over time, consumer prices will reach the central bank's 2 percent inflation target but the BOJ needs to continue with its quantitative easing, according to the minutes.
Last week on April 27, the Bank of Japan raised its economic forecasts at its policy meeting outcome on Thursday, but it kept policy steady, as was widely expected.
As well, the for April came in at 50.3, compared with an expected level of 51.2, taking the measure to a seven-month low. The figures follow official data released on Sunday China's Purchasing Managers' Index (PMI) fell to a six-month low of 51.2 in April from March's near five-year high of 51.8. The private sector Caixin/Markit PMI manufacturing survey focuses more on small and mid-sized firms.
Overnight, gold prices declined in European trading on Monday, falling toward a three-week low after U.S. congressional leaders reached an agreement to fund the government through the fall.
Negotiators in the U.S. Congress reached a deal late on Sunday on around $1 trillion in federal funding that would fund the government through September 30 and avert a government shutdown later this week.
The full House of Representatives and Senate must still approve the bipartisan pact, which would be the first major legislation to clear Congress since Donald Trump became president on January 20.
The news boosted risk-sensitive assets, such as global equities, and sparked a sell-off in assets perceived as safe, such as the yen, bullion and U.S. Treasuries, which are often used as a hedge in times of political uncertainty.
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