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Gold rises on weak economic data

17 August 2021 [11:55] - TODAY.AZ

By Trend

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as investors reacted to weak economic data, Trend reports citing Xinhua.

The most active gold contract for December delivery rose 11.6 U.S. dollars, or 0.65 percent, to close at 1,789.8 dollars per ounce.

The New York Fed's Empire State manufacturing index released on Monday fell 25 points to 18.3 in August from 43.0 in July, below the reading of 29.0 forecast by economists.

U.S. Treasury yields slipped further on the back of the sharp fall on Friday after release of the data, pushing gold prices higher.

Silver for September delivery rose 1.2 cents, or 0.05 percent, to close at 23.791 dollars per ounce. Platinum for October delivery fell 4.9 dollars, or 0.48 percent, to close at 1,021.1 dollars per ounce.

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