Gold Price Sees Modest Corrective Bounce

London (Jun 1)  Gold prices are modestly higher in early U.S. trading, on A corrective bounce from recent strong selling pressure That drove prices to a 3.5-month low on Tuesday. In overnight news, China's official purchasing managers' index (PMI) came in at 50.1 in May. The Caixin manufacturing PMI came in at 49.2 versus 49.4 in April. A reading above 50.0 suggests expansion in the sector. The news was deemed slightly downbeat and Asian stock markets saw some selling pressure on the data. U.S. stock indexes are pointed toward weaker openings when the New York day session starts.

Source: KitcoNews