Gold Holds Firm On Dollar Weakness

Trading 12 avr 2019 Donner votre avis

Gold prices held firm on Friday as the dollar surrendered much of its gains made in the previous session on the back of better-than-expected labour and inflation data.

Spot gold edged up 0.1 percent to $1,294.07 per ounce, after having touched a one-week low in the previous session. U.S. gold futures were up 0.3 percent at $1,297.35 an ounce. The dollar fell against its rivals amid anxiety about global growth and fears that U.S. corporate earnings could face back-to-back negative growth this year.

Financial giants JP Morgan Chase & Co (JP Morgan) and Wells Fargo & Co are set to report their financial results before the market open today, while Citigroup Inc (Citigroup) and Goldman Sachs Group Inc (Goldman Sachs) will report their earnings results on Monday.

Chinese trade data released today proved to be a mixed bag, with exports rebounding to a five-month high while imports fell more than expected.

Official data showed that China's exports rose 14.2 percent in March from a year earlier, beating analysts' expectations and marking the strongest growth in five months.

Imports dropped an annual 7.6 percent, worse than analysts' forecasts for a 1.3 percent fall and widening from February's 5.2 percent fall.

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