Goud in afwachting van maatregelen politiek......
Intro:
Gold inched up on Thursday after China's economic data added to hopes for more monetary easing there, though most investors remained on the sidelines, looking for clear signals on possible economic stimulus in Europe and the United States.
Volledige analyse:
Trading interest has been sluggish in the past few days as market participants wait for the European Central Bank to announce details of a bond-buying program, while the U.S. Federal Reserve gave few hints on further easing at its last policy meeting in early August.
"There seems to be sense of frustration that gold hasn't pushed out of the July ranges. But the frustration may come to an end soon as we see a pennant formation on the chart," said Nick Trevethan, senior commodity strategist at ANZ in Singapore.
He was referring to a chart pattern in which converging trendlines, generally displayed as lower highs and higher lows in narrowing trading ranges, are followed by a breakout in either direction.
The next key event for the gold market will be the annual economic policy symposium in Jackson Hole, Wyoming in late August, Trevethan added.
"The breakout on the chart will be contingent on the commentaries that emerge from the symposium," he said.
Spot gold had edged up 0.3 percent to $1,615.64 per ounce by 0638 GMT.
The U.S. gold futures contract for December delivery gained 0.2 percent to $1,618.70.
Trading volume on the popular Shanghai gold spot deferred contract dropped to a three-month low of 8,872 contracts on Wednesday, after double-counting. The contract stood at 331.23 yuan per gram, or $1,622.24 per ounce.
Rampant money printing by central banks is seen to support gold demand, as it raises the inflation outlook and drives investors to gold, a hedge against rising prices.
China's annual rate of consumer price inflation eased to a 30-month low of 1.8 percent in July, while factory output dropped to a three-year low, increasing expectations that Beijing will take further action to support the economy.
China overtook India as the world's top gold consumer late last year. In the first half of 2012, gold inflows from Hong Kong, a key conduit for China's gold imports, grew about sixfold from a year earlier.
By Rujun Shen
