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Gold today fell, after rallying for five days in its best run this year, declining with other commodities after data showed China's manufacturing expanded at a slower pace.
The gold lost 0.31 % to $ 1,421.90 an ounce. Prices are 9.4 % below the $ 1,561.45 close on April 11, before they plunged 14 % in two days, the worst slide since 1983. Silver also slumped 1.50 % to $ 23.06 an ounce.
The preliminary reading of 50.5 for a China Purchasing Managers' Index released by HSBC Holdings and Markit Economics compared with a final 51.6 for March, adding to concern the world's second-biggest economy is faltering. The number was below the median 51.5 estimate.
Bullion rallied for five days through yesterday, when it reached a one-week high of $ 1,439.30, as physical purchases increased.
The metal fell to a two-year low of $ 1,321.95 on April 16. Volume on the Shanghai Gold Exchange's benchmark cash contract jumped to a record yesterday, while sales of gold coins at the US Mint are almost triple so far in April compared with total sales a month earlier.
