Steady Gains In Gold, COMEX Futures Linger Around $1300 Level

Gold saw steady gains as recent recovery stayed in place on trade war concerns and worries over Chinese economic scenario. The metal currently trades at $ 1300 per ounce, up 0.27% on the day. The counter hit one month high of $ 1304 per ounce in last session. MCX Gold futures are trading at Rs 32367 per 10 grams, up 0.39% on the day after hitting a high near Rs 32400 per 10 grams.

Earlier today, China released tepid set of economic data. Chinas industrial production grew 5.4% year-on-year in April, following Marchs 8.5% increase, figures from the National Bureau of Statistics showed. The annual growth in retail sales eased to 7.2% from 8.7% a month ago. Another piece of data showed that fixed asset investment climbed 6.1% during January to April period compared to the 6.3% growth in January to March period.