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Gold Prices Fall Despite Weak Chinese Data; Still Trades Above $1,300 Level

Gold prices fell on Thursday in Asia even after China reported weaker-than-expected industrial output data.

Gold Futures for April delivery were down 0.5%, at $1,303.35 per ounce on the Comex division of the New York Mercantile Exchange by 1:11 AM ET (05:11 GMT). The precious metal remained above the key $1,300 level after hitting a near two-week peak of $1,309.60 on Wednesday.

China’s industrial output grew at the slowest pace in 17 years for the first two months in 2019. Factory output rose 5.3% year-on-year in January and February, the National Bureau of Statistics (NBS) reported on Thursday, the lowest since 2002.

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