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Gold Prices Little Changed as China Growth Data Matches Expectations By Investing.com




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Investing.com – Gold prices changed little on Monday in Asia after data showed that China's second-quarter growth data slowed to a 27-year low, but matched expectations.

for delivery in August, transactions on the Comex division of the New York Mercantile Exchange changed slightly to $ 1,413.35 at 12:43 AM ET (04:43 GMT).

Safe haven asset prices changed shortly after the release of a large amount of data from China this morning.

Data from the statistics office showed on Monday that the country slowed to 6.2% year-on-year in the April-June period. The figure was in line with expectations, but was lower than the year-on-year growth of 6.4% in the first quarter.

Meanwhile, the country, and number all surpass the forecasts.

Chinese stocks received a boost after the release of the data, but gold prices were little affected by them today.

Gold prices rose from $ 1,200 to $ 1,400 in the last two months amid expectations of a cut in the interest rate that will likely weaken the dollar and boost the yellow metal.

On the data front, headline inflation at the factory gates rose 1.7% from the previous year in June, surpassing expectations of a fall greater than 1.6%, reports showed on Friday.

In other news, tensions between China and the United States apparently abated somewhat as Reuters reported that the United States could grant licenses for companies to restart sales to Chinese telecommunications equipment manufacturer Huawei in just two weeks.

US President Donald Trump and Chinese leader Xi Jinping met in Japan last month and vowed to resume trade negotiations.

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