Gold Steady Below $1190 after Weak Data in China

Gold climbed 1 percent on Monday, buoyed by weak Chinese factory data and earlier dollar weakness, lifting prices above the prior session’s six-week low, though caution over the timing of a U.S. interest rate hike kept prices hemmed within a narrow range.

Silver also jumped, to its highest level in nearly four weeks, as the dollar index gave up early gains to fall 0.1 percent. Trading across financial markets was thinned by a UK holiday on Monday, with London markets closed.

Spot gold was up 1.1 percent at $1,191 an ounce, off a high of $1,193, while U.S. gold futures for June delivery settled up $12.30 an ounce at $1,186.80.


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