Thu, 03 Dec 2020

Gold up on geopolitical tension

23 May 2020, 04:51 GMT+10

CHICAGO, May 22 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as geopolitical tension drove investors to the precious metal.

The most active gold contract for June delivery rose 13.6 U.S. dollars, or 0.79 percent, to close at 1,735.5 dollars per ounce.

Stock market fell in Asia and the United States, also supporting gold.

U.S. dollar went stronger on Friday, capping the upward trend of gold.

Several key economic reports will be released next week, including the Chicago Fed national activity index, consumer confidence index, the Beige book, weekly jobless claims, and durable goods orders.

Silver for July delivery rose 32.9 cents, or 1.89 percent, to close at 17.693 dollars per ounce. Platinum for July delivery rose 19.8 dollars or 2.29 percent, to close at 886.3 dollars per ounce.

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