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Gold buoyed as weak eurozone data underlines fears over global growth
Monday, 23 September 2019 20:36 WIB | PRECIOUS METALS |GOLDEMASSILVER

Gold rose Monday, finding support after a round of downbeat data out of the eurozone underlined worries about global growth prospects and as traders continued to keep an eye on U.S.-China trade talks.

Gold for December delivery on Comex rose $11.10, or 0.7%, to $1,526.20 an ounce, while December silver jumped 57.1 cents, or 3.2%, to $18.42 an ounce.

The yellow metal gained ground after data indicated manufacturing activity in the eurozone contracted more sharply in September, posting its worst reading in nearly seven years. The flash eurozone manufacturing purchasing managers index fell to an 83-month low of 45.6 in September, down from 47 in August. Economists polled by FactSet had forecast a 47.3 reading ” a figure of less than 50 indicates activity declined.

Among individual country readings, Germany's manufacturing PMI reading fell to its lowest in more than a decade.

Source : MarketWatch

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