Gold Down, as Mixed Economic Data Takes Shine off Yellow Metal By

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By Gina Lee – Gold was down on Friday morning in Asia, with investors digesting a slew of economic data as the month of April ends.

were up 0.12% to $1,766.15 by 11:11 PM ET (3:11 AM GMT).

The U.S. rose 6.4% quarter-on-quarter in the first quarter of 2021 and 553,000 were filed over the past week, with government support such as money to mostly low-income households driving Thursday’s .

Investors also continue to monitor progress on a $1.8 trillion stimulus plan proposed by U.S. President Joe Biden earlier in the week.

In Asia, China recorded a slowing pace of growth ahead of a weeklong holiday beginning on Saturday. Data released earlier in the day said that the for April was 51.1 and the was 54.9. The for April was 51.9 and the is due in the following week.

In Japan, increased 2.2% month-on-month in March and the contracted 0.2% year-on-year in April,

On the COVID-19 front, the number of global cases surpassed the grim 150 million mark as of Apr. 30, according to Johns Hopkins University data.

In other precious metals, silver fell 0.6% while platinum was up 0.5%. Palladium inched down 0.1% after hitting a record high of $2,981.99 on Thursday but was still on track to post its third consecutive weekly gain.

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