The preliminary HSBC China manufacturing purchasing managers index (PMI) for May came in at 49.7 versus 48.1 in April and was the best reading in five months, it was reported Thursday. This news helped to lift world stock markets and the raw commodity sector, including gold and silver, as China is the world’s largest consumer of raw commodities and is the world’s second-largest economy. Still, a PMI reading below 50.0 suggests contraction. China had recently seen a string of downbeat economic reports.
Gold prices were also firmer Thursday in part due to the Indian government relaxing rules on the importation of gold by consumers. This is likely to result in more gold purchasing from Indian consumers. India is already the world’s second-largest consumer of gold.
中方数据既出，黄金止跌反弹；美元坚挺不屈，何时重返昨天？
Gold prices were also firmer Thursday in part due to the Indian government relaxing rules on the importation of gold by consumers. This is likely to result in more gold purchasing from Indian consumers. India is already the world’s second-largest consumer of gold.
中方数据既出，黄金止跌反弹；美元坚挺不屈，何时重返昨天？
