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Gold extends gains to sixth successive trading days

Xinhua, May 3, 2016 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange rose slightly on Monday, extending its gains to sixth successive trading days.

The most active gold contract for June delivery rose 5.30 U.S. dollars, or 0.41 percent, to settle at 1,295.80 dollars per ounce.

The precious metal markets in London and China were closed Monday for holiday and the precious metal market on the COMEX were very thin.

Analysts attributed the rise of the gold futures to the weaker U.S. dollar. The U.S. dollar declined against other major peers on Monday.

On the economic front, the manufacturing index registered 50.8 in April, a decrease of one point from March's reading of 51.8, the Institute for Supply Management said in a report Monday.

On Monday, silver for July delivery shed 13.70 cents, or 0.77 percent, to close at 17.682 dollars per ounce. Platinum for July delivery advanced 8.00 dollars, or 0.74 percent, to close at 1,086.40 dollars per ounce. Endit