Gold falls on stronger U.S. dollar
Sep 02, 2022
Chicago [US], September 2: Gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday as the U.S. dollar strengthened.
The most active gold contract for December delivery fell 16.9 U.S. dollars, or 0.98 percent, to close at 1,709.3 dollars per ounce.
Positive economic data released on Thursday also dampened gold. The U.S. Labor Department reported that U.S. initial unemployment claims decreased by 5,000 to 232,000 in the week ending Aug. 27.
The S&P Global U.S. manufacturing purchasing managers' index was revised higher to 51.5 points in August from a preliminary reading of 51.3.
The Institute for Supply Management said its manufacturing index remained at 52.8 percent, the same as July, beating expectations and staying above the 50-percent threshold indicating expansion.
Silver for December delivery fell 21.6 cents, or 1.21 percent, to close at 17.666 dollars per ounce. Platinum for October delivery fell 21.5 dollars, or 2.6 percent, to close at 805.5 dollars per ounce.
Source: Xinhua
