Gold Futures on the COMEX Division of the New York Mercantile Exchange ended higher on Monday (Tuesday morning EDT), after u.s. economic data seemed weaker.
The most active gold contract for December delivery climbed 5.7 u.s. dollars, or 0.51 percent, to become settled in 1,174 .40 u.s. dollars per ounce.
Gold
got support because a report released by The Fed's New York Branch
showed an unexpected weakening in the manufacturing sector of the State
of New York, also known as Empire State sector.
Empire State index fell to negative 14,92 in August, compared with a positive 3,86 in July. Analysts noted that the new orders size caused attenuation, and reached the lowest level since November 2010.
But
the rise in gold is further hampered by a stronger u.s. dollar. The
U.S. dollar index climbed 0,19 became 96,79 dollars at 18:10 GMT.
Dollar index is a measure of the U.S. unit against a basket of major currencies.
Gold and the dollar usually move in opposite directions, which means if
the dollar rises then gold futures will fall, because gold is measured
by the dollars become more expensive for investors.
Silver for September delivery rose 8.5 cents, or 0,56 percent, to close at 15,298 u.s. dollars per ounce. Platinum for October delivery increased by 6.7 u.s. dollars, or 0.67 percent, to close at .70 1,000 u.s. dollars per ounce. https://www.mql5.com/en/signals/120434
