Sat, 04 Jul 2020

Gold futures on COMEX division rise

Xinhua
30 May 2020, 05:18 GMT+10

CHICAGO, May 29 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday.

The most active gold contract for August delivery rose 23.4 U.S. dollars, or 1.35 percent, to close at 1,751.7 dollars per ounce.

Gold rose 3.4 percent in May.

The Chicago Fed released a report on Friday, showing its May purchasing managers index fell to 32.3 from 35.4 in April.

Gold also found support on global monetary stimulus measures.

As for other economic figures released on Friday, the U.S. Department of Commerce report showed personal income increased by 10.5 percent in April. Market analysts attributed the increase to the government COVID-19 relief checks, as the consumer spending fell 13.6 percent in April.

The University of Michigan's consumer sentiment index came in at a final reading of 72.3 in May, as against a final reading of 71.8 in April.

Silver for July delivery rose 53.2 cents, or 2.96 percent, to close at 18.499 dollars per ounce. Platinum for July delivery gained 6.5 dollars, or 0.75 percent, to close at 874.6 dollars per ounce.

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