Gold drifts weaker in Asia in cautious trade ahead of China GDP

Investing.com - Gold prices dipped in Asia on Friday in cautious trade ahead of GDP and other key data from China.
On the Comex division of the New York Mercantile Exchange, gold for August delivery eased 0.19% to $1,329.65 a troy ounce.
Silver futures for September delivery fell 0.36% to $20.248 a troy ounce, while copper futures for September delivery dropped 0.09%.
Overnight, gold fell sharply in broad risk-on trade, as a JPMorgan-driven (NYSE:JPM) rally sent equities on Wall Street soaring to fresh record-highs while investors departed from a bevy of safe-haven assets, following an unexpected decision from the Bank of England to hold its key interest rate steady.
Since hitting 28-month highs last week, Gold has closed lower in five of the last six sessions while losing approximately 2% in value.


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