Today, gold prices retreated in light of positive news from the Chinese economy and signs of progress in US-China trade talks, as fears of slowing economic growth eased.
According to Reuters news agency, by 0750 GMT, the spot price of gold was down about 0.2 percent to $ 1290.01 an ounce, after touching its lowest level since March 8 at $ 1286.35 on Friday.
And US gold futures fell 0.3 percent to $ 1294.80 an ounce.
Equity markets rallied after data showed unexpectedly Chinese factory activity grew for the first time in four months in March.
The most extreme part of the dismay of the global slowdown has eased somewhat and the Chinese data is responsible for that, but it is a point, ”said Kyle Roda, market analyst at IG Markets in Melbourne. One should be supported by more data.
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