Gold prices fall due to robust China data

Gold prices fall due to robust China data
3 hours ago
Gulf Today Report 
Gold prices dropped on Friday following economic data from China boosting hopes for a swift recovery.
Spot gold fell 0.2% to $1,751.86 per ounce by 04:23 GMT while US gold futures slipped 0.3% to $1,753.40 per ounce.
The bullion is likely to rise beyond 1% though as the US dollar and Treasury yields decline.
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Brian Lan, managing director at dealer goldSilver Central said, "the (falling) dollar and Treasury yields have helped gold this week along with the Fed's dovish tone, that has been topped with lockdowns in Europe and parts of Asia with some negative vaccine results."

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