
Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday due to positive U.S. data.
The most active gold contract for December delivery fell 2.9 U. S. dollars, or 0.26 percent, to settle at 1,112.70 dollars per ounce.
Gold was put under pressure as the U.S. Federal Reserve's Industrial Production report released Friday showed a 10.6 percent increase in motor vehicle production. Analysts say this contributed to an increase in the industrial production which rose 0.6 percent in July. The same analysts note that the manufacturing component also jumped 0.8 percent. This was better than expected and put pressure on gold.
The precious metal was put under additional pressure as a report released Friday by the U.S. Department of Labor showed the Producer Price Index increasing by 0.2 percent while the yearly change is negative 0.8 percent. Analysts note that excluding food and energy, prices rose 0.3 percent but the year-on-year rate slowed to plus 0.6 percent.
Silver for September delivery dropped 18.6 cents, or 1.21 percent, to close at 15.213 dollars per ounce. Platinum for October delivery shed 1 dollar, or 0.10 percent, to close at 994. 00 dollars per ounce.
GMT 19:47 2018 Saturday ,06 January
Global stocks extend rally; London hits record peakGMT 19:22 2018 Wednesday ,03 January
Worldwide stocks start year on a highGMT 10:37 2018 Wednesday ,03 January
Asian markets build on gains, dollar faces further weaknessGMT 17:30 2017 Sunday ,31 December
London stocks end year on record highGMT 18:04 2017 Thursday ,28 December
Miners boost stocks in thin holiday tradingGMT 18:51 2017 Monday ,25 December
Oman’s share index falls on lack of buying supportGMT 08:49 2017 Sunday ,24 December
'Virtual gold' may glitter, but mining it can be really dirtyGMT 17:45 2017 Saturday ,23 December
Madrid stocks sink on Catalan woes; London hits record
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor