Gold ascends in Asia with eye ahead of China prices data

On Friday, gold held early revenues during Asia trade, with traders cautious ahead of consumer as well as producer prices data from China.

In New York, December delivery gold futures added 0.15%, hitting $1,258.65 per troy ounce.

Additionally, December delivery silver futures acquired 0.34%, trading at $17.571 per troy ounce, while copper futures soared 0.05%, being worth $2.124 a pound.

China reports CPI for September with a revenue of about 0.3% observed month-on-month and a 1.6% surge year-on-year. Besides this, PPI data is supposed to show a dip of 0.3% year-on-year.

Overnight, gold prices held on to overnight profits during North America's trading session on Thursday, as the greenback and global stock markets pulled back after shockingly poor Chinese trade data drove fresh worries regarding the world's second-largest economy.

China's September exports sank, while imports suddenly shrank having picked up in August, thus suggesting signs of steadying in the world's number two economy might be short-lived.

Scroll to top