Gold Edges Lower as Traders Weigh China Data, Inflation Outlook
- China’s economy performed better than expected in October
- Gold surged last week following hot U.S. inflation data
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Gold edged lower as investors assessed new economic data from China and the outlook for global inflation.
In China, a flurry of figures on everything from industrial output to retail sales showed the country’s economy stabilizing as spending improved and power shortages abated. Still, a slump in the property market and rising Covid-19 cases are indicating the nascent recovery isn’t yet on solid ground.