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Gold Rebounds From Biggest Drop Since '16 on Slowdown

Tuesday, 2 July 2019 09:30 WIB

GOLDEMAS Spot Emas

Gold rebounded from its biggest decline in more than two years on signs of fresh strains on the global economy.

Factory activity across Asia and Europe shrank in June, while the U.S. showed only meager growth, according to purchasing managers' indexes. A global measure pointed to a second straight contraction, the first time that has happened since 2012.

Bullion retreated back below $1,400 an ounce on Monday after the U.S and China reached a truce in their trade war and as American equities rose to a record. President Donald Trump said a new round of trade talks is underway.

Spot gold +0.4% to $1,390.24/oz at 9:59am in Singapore. Prices -1.8% on Monday, biggest drop since November 2016.

Source : Bloomberg

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