Price of Gold Fundamental Daily Forecast
Fx Empire of FX Empire - InsideFutures.com - Mon Dec 02, 7:55AM CST
Gold prices are falling on Monday, erasing nearly all of Fridays gains as investors reacted to a jump in demand for risky assets and a surge in U.S. Treasury yields. The U.S. Dollar is also rising against a basket of major currencies, leading to lower foreign demand for dollar-denominated gold.

At 11:07, February Comex gold is trading $1463.20, down $9.40 or -0.64%.

The early catalyst behind the weakness in gold is another sign of global economic growth following reports of an expanding Chinese factory sector over the weekend. Meanwhile, investors prepared for a Treasury auction, while continuing to monitor the uncertainty surrounding U.S.-China trade talks.
Unexpected Expansion in Factory Activity
An unexpected expansion in factory activity during November in China, spurred investors into the higher-yielding equity markets and reduced the interest in safe-haven bullion.

A private survey of Chinese factory activity in November came in stronger than expected on Monday, with the Caixin/Markit manufacturing Purchasing Managers Index for the month rising to 51.8.

Data released on the weekend showed factory activity in China rising more than expected. The official Purchasing Managers Index (PMI) was at 50.2 in November, according to Chinas National Bureau of Statistics.
The article was written by FX Empire's James Hyerczyk, the article in Full:
https://www.fxempire.com/forecasts/article/price-of-gold-fundamental-daily-forecast-strong-china-factory-data-dampens-concerns-over-slowing-global-economy-616822