Gold fell on Friday morning in Asia, with investors digesting economic data as of the end of April.
U.S. GDP rose 6.4% in the first quarter of 2021 and 553,000 initial unemployment claims were filed last week, with government support such as money for low-income families driving positive data on Thursday.
Earlier in the week the U.S. Investors are also monitoring the progress of the $ 1.8 trillion stimulus package proposed by President Joe Biden.
In Asia, China recorded growth momentum ahead of a week-long holiday beginning Saturday. The Product Purchasing Managers’ Index (BMI) for April was 51.1 and the non-production BMI was 54.9. Gas’s output for April was 51.9.
In Japan, industrial output rose 2.2% in March and Tokyo’s major consumer price index contracted 0.2% year-on-year in April.
Leading the COVID-19, the number of cases worldwide as of April 30 has surpassed 150 million, according to Johns Hopkins University data.
Among other precious metals, silver fell 0.6% and platinum rose 0.5%. Palladium fell 0.1% after hitting a high of 9,981.99 on Thursday but was on track to record its third consecutive weekly gain.
