Off the wire
• Urgent: Gold up on weak U.S. data  • Five Nicaraguan policemen die during ambush by armed gang  • UN chief "seriously alarmed" by escalation of violence in eastern Ukraine  • Foreign exchange rate of Euro to other currencies  • Feature: Renowned Chinese Ballet attracts large Crowd of Finnish Spectators  • Africa Focus: Kenyan police hunts suspects behind terror recruitment  • 1st LD Writethru: UN chief shocked to learn of blast in Thai capital  • Britain's commercial satellite to be launched by end of August  • Swedish stabbing incident sends three to hospital  • German central bank sees solid German growth to continue in H2  
You are here: 　 Home

1st LD Writethru: Gold up on weak U.S. data

Xinhua, August 18, 2015 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday on weaker U.S. data.

The most active gold contract for December delivery rose 5.7 U. S. dollars, or 0.51 percent, to settle at 1,118.40 dollars per ounce.

Gold was given support as a report released by the New York Fed showed unexpected weakness in the New York state manufacturing sector, also known as the Empire State sector. The Empire State index fell to negative 14.92 in August, compared to positive 3.86 in July. Analysts note that the new orders measure is leading the weakness, and is at its lowest level since November 2010.

Gold was prevented from rising even further by a stronger U.S. dollar. The U.S. Dollar Index rose by 0.19 to 96.79 as of 18:10 GMT. The index is a measure of the dollar against a basket of major currencies. Gold and the dollar typically move in opposite directions, which means if the dollar goes up, gold futures will fall as gold, measured by the dollar, becomes more expensive for investors.

Silver for September delivery rose 8.5 cents, or 0.56 percent, to close at 15.298 dollars per ounce. Platinum for October delivery added 6.7 dollars, or 0.67 percent, to close at 1,000.70 dollars per ounce. Endite