Gold slips as dollar bounces back from US data hit

Gold edged lower on Wednesday as the dollar recovered from losses spurred by weaker-than-expected US retail sales data.



Data showing China’s economy grew 7 percent in the first quarter, the slowest in six years, suggested that physical demand from the world’s No. 2 consumer would remain tepid this year.



Spot gold was down 0.1 percent at $1,191.80 an ounce by 0301 GMT, after touching its lowest in two weeks at $1,183.68 on Tuesday.



US gold for June delivery was off 0.1 percent at $1,191.40 an ounce.



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Posted in: Indian Market Tips