Unexpected chines data shakes gold market

Chinese Gold Bars

Investor head to gold today as the safe heaven, after the negative chines data released today. The chines data earlier today, a separate report showed that PMI HSBC China fell to 49.2 in May, its lowest level since October 2012, from 49.6 in April.

The weak chines data released today, followed by a rise in gold price in the early asian trading session. But we can say that we are waiting for the data from Euro area, to identify the daily trend of gold price. Investors in china head to gold market which caused a slight rise by the beginning of the trading today.