On Thursday, gold inched down and then recovered because downbeat American economic data compensated optimism over trade negotiations between America and China…
Gold jumps in Asia on solid China trade figures
On Thursday, gold leapt in Asia, following solid trade figures from China, especially on imports as well as on geopolitical risk sentiment, not to mention Donald Trump's remarks on the greenback and interest rates.
In New York, June delivery gold futures soared 0.76%, being worth $1,287.85 a troy ounce. Additionally, silver futures grew 1.19%, trading at $18.517 a troy ounce, copper ascended 1.10%, trading at $2.568 a pound.
In Yuan terms China's imports inched up by 31.1%, as customs data disclosed on Thursday, with exports ascending 14.8% for the first quarter from the previous year. China posted a trade surplus of CNY454.94 billion. Customs is supposed to issue dollar-denominated trade report later on Thursday.
In dollar terms, in March exports added 16.4 % year-on-year, with imports leaping 20.3%, both surpassing expectations.
Overnight, gold prices jumped, though sank from a five-month peak notwithstanding increased demand for safe-haven gold amid increased geopolitical jitters.
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