Gold Rises As Equities Pullback After China Data

Trading 14 jan 2019 Donner votre avis

Gold prices inched higher on Monday, the dollar fell, and equities pulled back as a shock contraction in Chinese exports and imports following a weak November raised fresh concerns about global growth.

The precious metal is also benefiting from expectations that the Federal Reserve will stop raising interest rates until it gets a clearer picture of where the economy is headed.

Spot gold rose 0.55 percent to $1,294.14 per ounce, while U.S. gold futures were up 0.40 percent at $1,294.65 per ounce.

Stocks fell across Asia and Europe today after data showed China's exports unexpectedly fell 4.4 percent from a year earlier in the month, marking the biggest monthly drop in two years. Imports also fell 7.6 percent - the biggest decline since July 2016.

The U.S. dollar is expected to decline over the medium to long term as the Fed attempts to normalize its policy amid several external headwinds.

Fed Chairman Jerome Powell sent equity markets soaring last week, when he said the U.S. central bank was listening to concerns and would be flexible.


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