Gold Gains As Weak Economic Data Hints At Global Slowdown - Dollar Advisory | Best Commodity Tips Provider

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Tuesday 2 July 2019

Gold Gains As Weak Economic Data Hints At Global Slowdown

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Gold prices rose on Tuesday buoyed by a safe-haven sentiment emanating from weak global manufacturing data that hinted at an economic slowdown, a day after the metal declined more than 1 percent on expectations of a US-China trade truce. Prices fell about 1.8 percent on Monday, its biggest one-day percentage decline since November 2016. They had touched a more than one-week low of $1,381.51 per ounce. US gold futures were up 0.2 percent at $1,391.70 an ounce. Factory activity shrank across much of Europe and Asia in June while growth in manufacturing cooled in the United States, keeping the world's policymakers under pressure to avert a recession amid a US-China trade war.

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