Gold prices dropped on Friday in Asia despite Sino-U.S. trade jitters and a set of weak data across Asia.
Gold Futures for December delivery dropped 0.2% to $1,513.25 by 1:21 AM ET (05:21 GMT).
A Bloomberg report suggested China may well resist signing a comprehensive trade deal, in part because its leaders don't trust U.S. President Donald Trumps' impulsive nature.
Meanwhile, Trump said in a tweet overnight that Beijing and Washington is searching for a new venue for him and Chinese President Xi Jinping to sign a phase one trade deal after Chile cancelled a summit planned for November.
On the data front, this week’s data showed Hong Kong economy contracted 3.2% in the third quarter, while China’s state purchasing managers index showed manufacturing contracted for a sixth-straight month, and at the fastest rate since February.
Meanwhile, Japan’s Jibun Bank Final Japan Manufacturing Purchasing Managers' Index (PMI) dropped to 48.4 on a seasonally adjusted basis, hitting the lowest level since June 2016.
South Korea’s exports in October fell 14.7% from a year earlier. It was the biggest drop in nearly four years on-year.
