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Gold rises on weak Chinese exports

English.news.cn   2014-03-11 04:59:57

CHICAGO, March 10 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose Monday on weaker than expected Chinese economic data.

The most active gold contract for April delivery rose 3.3 U.S. dollars, or 0.25 percent, to settle at 1,341.5 dollars per ounce.

China's General Administration of Customs said Saturday the country's exports in February unexpectedly fell 18.1 percent from a year earlier, leaving a trade deficit of 22.98 billion dollars for the month.

The downbeat data added to investors' concerns about growth in China, one of the top gold-consuming nations, although the Lunar New Year holidays were blamed for the slide.

Market analysts attribute the rise in gold so far this year to extreme weather, drought, the crisis in Ukraine and cheap valuation of the safe-haven asset.

Silver for May delivery lost 1.8 cents, or 0.09 percent, to close at 20.91 dollars per ounce, while Platinum for April delivery slipped 6.4 dollars, or 0.43 percent, to close at 1,477.2 dollars per ounce.

Editor: Mu Xuequan
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