The dollar index was lower, however, limiting gold's losses as it makes holding the metal cheaper for buyers holding other currencies
Bengaluru — Gold prices eased on Monday as stock markets rallied after upbeat Chinese economic data soothed some concern about the global economy and boosted risk appetite, although losses were limited by a sliding dollar.
US gold futures fell 0.2% to $1,295.40 an ounce. “We have a positive environment in the equity markets so risk is on and that's a negative for gold,” Julius Baer analyst Carsten Menke said. Gold has gained more than 11% since touching its lowest in about one-and-a-half years last August, on a dovish US Federal Reserve and global growth concerns.Investors are awaiting US retail sales and manufacturing PMI data due later in the day.
Elsewhere, Britain's exit from the EU was in disarray after the implosion of Prime Minister Theresa May's strategy left her under pressure from rival factions to leave without a deal, go for an election, or forge a much softer divorce.
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