Gold futures surged higher on Monday as it continues to what has been a banner rally year for the precious asset amid a slender hiccup last week.
Gold to be delivered in April moved $21.10 or 1.6%, to $1,342.70 per ounce in electronic trading. May silver gained 23 cents or 1.1%, to $21.47 per ounce. Last week, gold closed in the red as an increase in US consumer sentiment and strength in Chicago’s business benchmark supported amplify demand for the US equities.
For the week, gold posted a loss of around 0.2%, its first weekly loss in four week. The entire month was a different story: gold retreated about 7% for its two straight advance. On the economic front, there is no deficiency of data that could push gold prices this week. Along with monthly car sales, the ISM manufacturing index for February and the Markit US PMI manufacturing index will be released today.
In metals trading Monday, April platinum profited $4.40 to $1,451.20, while June palladium nailed $1.75 to $745.95 per ounce.
The material has been provided by InstaForex Company – www.instaforex.com
Gold futures surged higher on Monday as it continues to what has been a banner rally year for the precious asset amid a slender hiccup last week.
Gold to be delivered in April moved $21.10 or 1.6%, to $1,342.70 per ounce in electronic trading. May silver gained 23 cents or 1.1%, to $21.47 per ounce. Last week, gold closed in the red as an increase in US consumer sentiment and strength in Chicago’s business benchmark supported amplify demand for the US equities.
For the week, gold posted a loss of around 0.2%, its first weekly loss in four week. The entire month was a different story: gold retreated about 7% for its two straight advance. On the economic front, there is no deficiency of data that could push gold prices this week. Along with monthly car sales, the ISM manufacturing index for February and the Markit US PMI manufacturing index will be released today.
In metals trading Monday, April platinum profited $4.40 to $1,451.20, while June palladium nailed $1.75 to $745.95 per ounce.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: