Monday, June 3, 2013

Gold futures shoot up to session high after dismal ISM data 

Gold futures spiked to the highest levels of the session on Monday, after data showed that the U.S. manufacturing sector contracted unexpectedly in May, underlining concerns over the U.S. economic recovery.

On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at USD1,401.25 a troy ounce during U.S. morning hours, up 0.6% on the day.

Comex gold prices held in a range between USD1,388.55 a troy ounce, the daily low and a session high of USD1,402.25 a troy ounce.

Gold futures were likely to find support at USD1,353.55 a troy ounce

No comments:

Post a Comment