Off the wire
• Climate change helps fuel Syria conflict: study  • Urgent: Oil prices drop amid ample supplies  • Kenya to destroy 15 tonnes of ivory to stem elephant poaching  • Rutten quits as Feyenoord coach after season  • Kenya to prosecute 13 people over controversial security contracts  • Kenya to introduce new laws to curb road carnage  • Urgent: Gold falls on profit taking  • Raids on Tanzanian police stations are terror related: President  • Serbia to strengthen ties with Asia-Pacific region  • UN Mideast peace envoy urges world to help Gaza in farewell visit  
You are here: 　 Home

1st LD Writethru: Gold falls on profit taking

Xinhua, March 3, 2015 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as investors took profits after a three-session rise despite downbeat U.S. data.

The most active gold contract for April delivery fell 4.90 U.S. dollars, or 0.40 percent, to settle at 1,208.20 dollars per ounce.

Profit-taking was the feature of the market on Monday, putting extensive pressure on the precious metal, analysts say. However, downbeat U.S. data prevented gold from falling further.

Personal income, reflecting money collected from wages, investments and government aid, increased 0.30 percent in January, said the U.S. Commerce Department Monday. This gave gold support, but not enough to null the pressure from profit-taking.

Silver for May delivery fell 10.70 cents, or 0.65 percent, to close at 16.451 dollars per ounce. Platinum for April delivery added 4.30 dollars, or 0.36 percent, to close at 1,189.90 dollars per ounce. Endite