Gold prices were little changed on Monday in Asia

Gold prices were little changed on Monday in Asia after data showed China’s second-quarter growth data slowed to a 27-year low but matched expectations.

Gold futures for August delivery, traded on the Comex division of the New York Mercantile Exchange were little changed at $1,413.35 by 12:43 AM ET (04:43 GMT).

Gold prices jumped from $1,200 levels to $1,400 over the past two months amid expectations of an interest rate cut that will weaken the dollar and boost the yellow metal.

In other news, tensions between China and the U.S. seemingly eased somewhat as Reuters reported that the U.S. may grant licenses for companies to restart sales to Chinese telecommunication equipment maker Huawei in as little as two weeks.

U.S. President Donald Trump and Chinese leader Xi Jinping met last month in Japan and promised to resume trade negotiations.

 

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