Gold declines as bond yields recovered amid signs that concerns over global growth are easing with China's first official economic gauge for March pointing to stabilization.
China's official PMI, released Sunday, rebounded to 50.5 from 49.2 in the prior month -- the biggest increase since 2012. Meanwhile, Goldman Sachs Group Inc. remains bullish on gold as it expects a rebound in exchange-traded fund holdings to continue, driven by U.S. late-cycle worries and negative German 10-year real rates.
Spot gold -0.3% at $1,289.15/oz at 8:21am in London; +0.2% on Friday.Metal -1.6% last week and was down a similar amount in March.
Source : Bloomberg