Gold and Silver Mixed as Chinese Growth Softens and India Hikes Bullion Import Taxes
Precious metals prices were buffeted last week as news was released of a reduced economic growth rate in China that sparked renewed speculation of near term monetary easing by the People’s Bank of China or PBOC.
The release of softer Chinese GDP data may have prompted a rally in gold and silver prices as traders increasingly anticipated that the PBOC may move to increase economic production by lowering its benchmark interest rates. Chinese stock prices also generally improved.
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Bullion, Chinese, Gold, Growth, hikes, Import, India, mixed, Silver, softens, Taxes
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