The gold price futures contracts fell during the US session to see their rebound from the top since March 7, with a high indicator the US dollar according to their inverse relationship following the economic developments and data that they followed on Wednesday from the Chinese economy, the largest Consumer of metals globally and his American economy is the world's largest economy.
At 01:57 pm GMT, futures for gold prices declined to deliver 15 April April, 0.26% for the time being. At $1,323.60 for the ounce compared with the opening at $1,327.1 of the ounce, amidst the US dollar index rising by 0.16% to 89.81 levels compared Opening at 89.66.
We have followed up on the Chinese economy, the world's second largest economy and the second largest industrialized country after the United States, revealing the annual reading of the index industrial production, which showed the acceleration of growth to 7.2% compared with the previous annual reading of January January and forecasts at 6.2%, In conjunction with the annual reading of retail sales, the growth rate accelerated to 9.7%, compared to 9.4%, without expectations at 9.9%.
At the other level, we have followed the American economy with the issuance of the producer price index reading, which is an initial indicator of inflationary pressures and which has shown the acceleration the pace of growth to 0.2% compared to 0.1% in January January, without expectations at 0.4%, while the fundamental reading of the index itself showed a slower pace Growth to 0.2% compliant with Outlook versus 0.4% in January January.
This came in tandem with retail sales reading, accounting for about half of the consumer spending, which represents more than two thirds of the gross domestic product of the States which showed the stability of the decline at 0.1% during February February, other than expectations that indicated a 0.3% rise, while showing The basic reading of the index itself accelerated growth to 0.2 versus 0.1%, without expectations at 0.4%.
This comes after hours of the news report that US President Donald Trump is seeking to impose new tariffs on his country's imports by some $30 from China, nearly 100 products include electronics, communications equipment, plus other products, and that Trump's endorsement of those SU tariffs He is very close, and in return, the Chinese foreign minister said his country would respond strictly to protect its trade interests.
The gold holdings were stabilized by the S-P-D Gold Trust Fund, which is the world's largest gold-supported indicator fund on Monday. For the fourth straight day at a total of 833.73 metric tons, the gold holdings of the Fund have increased in the previous year 2017 by about three percent, i.e., Ben Ho 23.63 metric tons.