Home / TIPS / MTECHTIPS:-Gold up in Asia as soft China prices data signals easy monetary policies

MTECHTIPS:-Gold up in Asia as soft China prices data signals easy monetary policies

MTECHTIPS:-Gold up in Asia as soft China prices data signals easy monetary policies

Gold prices gained in Asia Wednesday as weak prices data out of China highlighted prospects for continued easy monetary policies. On the Comex division of the New York Mercantile Exchange, gold for December delivery rose 0.62% to $1,172.60 a troy ounce, while silver futures for December delivery gained 0.46% to $15.980 a troy ounce. Copper for December delivery rose 0.33% to 2.388 a pound. China said consumer prices gained 1.6% in September, a slower pace than the 1.8% gain seen, while producer prices fell at the 5.9% pace expected In early Asia, the Westpac consumer sentiment survey rose 4.2% to 97.8, compared to an expected 3.0% gain, as a change in government leadership aided upbeat views. In Japan, the corporate goods prices index fell 3.9%, matching expectations. Overnight, gold futures were relatively unchanged on Tuesday amid a flat dollar, as widespread concerns related to economic growth in China and the timing of an interest rate hike by the Federal Reserve remained in focus. In a speech at the National Association for Business Economics annual conference on Tuesday morning, Federal Reserve Bank of St. Louis president James Bullard stood firm on his position that economic conditions 

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