US gold futures reversed early losses to end moderately higher on Tuesday, turning up when the dollar gave up gains. Gold also got support from a stronger-than-forecast US retail sales reading that implied economic growth and possible inflationary environment down the road, traders said.
GOLD: December gold gained $5.20 to close at $1,006.30 an ounce on the COMEX division of the New York Mercantile Exchange. The range extended up to a $1,011.50 an ounce high, from a low at $993 an ounce. Gold prices remained modestly lower early when the dollar strengthen, but then turned higher when the dollar lost ground - traders.
SILVER: December silver raced up 37.70 cents to finish at $17 an ounce, rising with base metals. Range extended up to $17.08 from a low of $16.44 an ounce.
Silver traded higher with other industrial metals, reversing early losses, after strong US retail sales pointed to an improving economic climate. Spot silver at $17 an ounce was higher than $16.50 an ounce in late Monday dealings.
PLATINUM: October platinum added 60 cents to settle at $1,320.30 an ounce. Spot platinum firmed with gold, moving up to $1,324.50 an ounce from $1,312.50 an ounce late Monday.
PALLADIUM: December palladium rose 50 cents to end at $296.25 an ounce. Spot palladium was quoted at $291.50, up from $290 an ounce at Monday's finish.
Comments
Comments are closed.