Gold earns slightly in Asia

September 30, 2016

On Friday, gold prices edged up in Asia after a key manufacturing poll from China came in as expected and traders looked ahead to more remarks from Fed policymakers.

In New York, December delivery gold futures added 0.09%, hitting $1,327.15 per troy ounce. Meanwhile, December delivery copper futures dropped 0.18%, trading at $2.184 per pound. By the way, China turns to be the world's number one copper importer.

September‘s Caixin manufacturing PMI came in at 50.1 exactly as expected.

Overnight, gold prices extended their modest losses during North America's trading session on Thursday, descending to a fresh one-week minimum as traders digested better than expected American economic data.

The official China manufacturing PMI for September from the National Bureau of Statistics as well as China Federation of Logistics and Purchasing is going to be published on Saturday.

Official data revealed that the third estimate of American second quarter GDP grew 1.4%, revised from the previous outcome of a 1.1% expansion. 

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