Gold prices rose in Asia on Monday as consumer prices eased in China last month and investors eyed easier monetary policy.
Gold for June delivery on the Comex division of the New York Mercantile Exchange rose 0.67% to $1,252.10 a troy ounce.
Consumer prices for March in China fell 0.4%, more than the expected 0.3% decline month-on-month and up 2.3% year-on-year, less than the 2.5% gain seen, according to official data released on Monday.
Producer prices fell 4.3% year-on-year in March., less than the 4.6% decline expected. The Producer Price index gained 0.5% month-on-month in March, its first rise since January 2014 and compared with a decline of 0.3% in February.
In the week ahead, market players will be turning their attention to key economic data out of China, with Friday’s first quarter GDP report in the spotlight.
Reference: Investing
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