Gold Steadies as Market Weighs China, Bullish Bet Cut
Monday, 15 July 2019 17:33 WIB | PRECIOUS METALS |GOLDEMAS

Gold steadied amid signs that China's economy is stabilizing and after hedge fund managers reduced bullish bets on the metal.

Gains in Chinese factory output and retail sales for June beat estimates further evidence that stimulus measures may be feeding through. Still, bullion remains near the highest level in six years as investors anticipate looser monetary policy. They'll be watching closely for more commentary this week, including from Federal Reserve Chairman Jerome Powell on Tuesday, as well as key data points such as U.S. retail-sales.

Spot gold little changed at $1,415.49/oz, after +0.9% on Friday. Prices +1.2% last week.

Source : Bloomberg

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