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Gold Prices Slip as China Data Boosts Investor Sentiment

Gold prices slipped on Tuesday in Asia after data suggested China’s manufacturing sector was recovering from a sharp slowdown earlier in the year.

Gold futures traded on the Comex division of the New York Mercantile Exchange were down 0.3% to $1,290.65 by 12:45 AM ET (04:45 GMT).

China’s Caixin/Markit manufacturing purchasing managers’ index (PMI), released on Monday, rose to 50.8 from 49.9 in February. That was the strongest reading in eight months and followed an uptick in the official PMI, which tracks mainly state-owned enterprises.

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