U.S. gold futures gained 0.8% to $1,770.50. “Markets are pricing in that the (economic) recovery is going to be a little slower than previously expected, and that’s probably going to require an environment of lower rates,” said IG Markets analyst Kyle Rodda, adding that Friday’s “really poor” U.S. economic data was the big catalyst. Data out on Friday showed U.S. retail sales and industrial production both plunged in April, putting the economy on track for its deepest contraction since the Great Depression.
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