Gold prices sink moderately in Asia
During Monday’s Asia trade gold edged down modestly with comments from the G-20 summit in China eyed for global coordination on monetary as well as fiscal policies.
In New York, December delivery gold futures dipped 0.12%, being worth $1,326.50 per troy ounce. Aside from that, December delivery copper futures soared 0.10%, hitting $2.080 per pound.
Coming up this week, the European Central Bank gathering on Thursday will be closely watched for a monetary stimulus to spur inflation and also prop up the economy, while American reported service sector growth in a shortened trading week with the financial markets unavailable on Monday for a holiday. China is expected to issue trade as well as inflation data amid ongoing worries over the health of the world's number two economy.
The previous week, gold prices grew on Friday, as weaker than expected American employment data decreased the probability that the Federal Reserve will lift its interest rates at its policy gathering later this month.