TokyoTokyo Mon - Fri 10:00-18:00 +81 (366) 701-751

Gold falls as U.S. dollar strengthens

Mount Equity Group Tokyo Japan > News > Markets > Gold falls as U.S. dollar strengthens

CHICAGO, Dec. 5 (Xinhua) — Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as the U.S. dollar strengthened.

The most active gold contract for February delivery fell 28.3 U.S. dollars, or 1.56 percent, to close at 1,781.3 dollars per ounce.

Rising U.S. treasury yields further pressured gold.

Economic data released Monday also dampen gold. The U.S. Department of Commerce reported that U.S. new orders for manufactured goods increased 1 percent in October on month after rising by 0.3 percent in September. The growth is also higher than an increase of 0.7 percent expected by economists.

The Institute for Supply Management’s composite services index increased to 56.5 percent in November, rising 2.1 points from 54.4 percent in October.

The seasonally adjusted final S&P Global US Services PMI Business…

Read more…