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Gold Prices Slip Below Key $1,300 Level on Strong China Data, Trade Optimism

Prices of the safe-haven gold slipped on Monday in Asia and traded below the key $1,300 level as the release of stronger-than-expected China trade and credit data on Friday boosted risk appetite.

Gold Futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, were down 0.2%, at $1,292.15 per ounce by 12:55 AM ET (04:55 GMT).

The precious metal finished last week basically flat.

Risk sentiment was boosted today by the credit data released by the People’s Bank of China on Friday that suggested growth exceeded all estimates in March.

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