Gold price rose on a weaker U.S. dollar and as global stocks declined on the Chinese trade data. The Chinese Customs Office released its trade data on Tuesday. China’s trade surplus dropped to $32.59 billion in February from $63.30 billion in January, beating expectations for a decline to a surplus of $50.15 billion. Exports fell at an annual rate of 25.4% in February, the biggest drop since May 2009, while imports slid at an annual rate of 13.8%, the fifteenth consecutive decline.
April futures for gold on the COMEX today rose to 1269.80 dollars per ounce.
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