Bullion traded 0.4% higher on Monday, reaching $1,295.10 as a reaction to the Chinese manufacturing data release and the lowering chances of a rate hike. Gold is believed to be targeting the $1,300 mark which is the highest since January 2015, after expanding its gains for the second consecutive week.
Asian markets closed low on Monday with Japanese stocks leading the way, as the Yen gained strength following lack of monetary policy expansion by the BoJ. While Labour Day kept the Chinese and Hong Kong markets closed, the Nikkei index finished with a 3.1% slip at 16,147.38 points and the Topix was down 3.0% to show 1,299.96 points at a