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1st LD Writethru: Gold up on Brussels attacks

Xinhua, March 23, 2016 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday as terrorist attacks in Belgium gave support to the precious metal.

The most active gold contract for April delivery fell 4.4 U.S. dollars, or 0.35 percent, to settle at 1,248.60 dollars per ounce.

Traders moved their assets to gold for the safe haven property as the apparently coordinated bomb blasts in Brussels -- for which the Islamic State group claimed responsibility -- spooked investors, analysts said.

Gold was given additional support as the seasonally adjusted Markit Flash U.S. Manufacturing Purchasing Managers' Index (PMI) came in at 51.4 in March, missing market consensus of 52.4.

Analysts noted that cheap oil prices were impacting this measure, as demand for energy industry equipment has been dampened.

The precious metal was prevented from rising further as the U.S. Dollar Index rose by 0.32 to 95.70, while U.S. Dow Jones Industrial Average rose by 19 points, or 0.11 percent, as of 1830 GMT. European stocks also settled higher on Tuesday.

Silver for May delivery rose 3.80 cents, or 0.24 percent, to close at 15.885 dollars per ounce. Platinum for April delivery added 15 dollars, or 1.53 percent, to close at 996.80 dollars per ounce. Endit