Gold prices edged lower Monday morning amid downbeat economic news from China.
The dollar strengthened after Beijing reported China’s economy grew 6.9% in the third quarter, the weakest rate since the global financial crisis in 2009.
Some would argue that those numbers are being fuded, and that China’s true economic growth has been slower.
Gold was down $10 at $1175 an ounce, having risen to a 4-month high near $1200 last week.
The National Association of Home Builders is due to release the results of its homebuilder sentiment survey for October at 10 am ET. Economists expect the index to have remained unchanged at 62.
The material has been provided by InstaForex Company – www.instaforex.com