Gold held an advance as investors weighed sustained inflows into bullion-backed funds, mixed global economic data, and comments from Federal Reserve officials. Palladium traded near a record.
Data on Monday showed Germany’s economy is suffering its worst downturn in almost seven years, adding to concerns about a slowdown. In the U.S., while a gauge of employment in service industries pointed to job losses for the first time in almost a decade, a manufacturing index advanced to a five-month high.
Markets are also focused on next month’s planned high-level trade talks between the U.S. and China, as well as any action or messaging from the world’s major central banks. Fed Bank of St. Louis President James Bullard said further easing may be needed to offset downside risks.
Spot gold -0.1% at $1,520.33/oz at 10:19am in Singapore; +0.4% Monday and +1.9% last week.
Source : Bloomberg