Gold rises as U.S. dollar weakens


By Xu JingUnreguser

CHICAGO, May 26 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Thursday as the U.S. dollar fell.

The most active gold contract for June delivery rose 1.3 U.S. dollars, or 0.07 percent, to close at 1,847.6 dollars per ounce.

Gold's growth is capped as the U.S. Labor Department reported on Thursday that U.S. initial jobless claims decreased by 8,000 to 210,000 in the week ending May 21.

Other economic data released on Thursday supported gold. The U.S. Commerce Department reported that the country's real gross domestic product (GDP) decreased at an annual rate of 1.5 percent in the first quarter of 2022, following an increase of 6.9 percent in the fourth quarter of 2021.

The National Association of Realtors reported that U.S. pending home sales plunged by 3.9 percent to 99.3 in April after tumbling by 1.6 percent to a revised 103.3 in March.

Silver for July delivery rose 9.5 cents, or 0.43 percent, to close at 21.965 dollars per ounce. Platinum for July delivery rose 8.1 dollars, or 0.87 percent, to close at 937.4 dollars per ounce.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In World

Filipina wins transgender pageant in Thailand
Biden, G7 leaders to agree on import ban on Russian gold - source
Italy's Paltrinieri wins men's 1500m freestyle at FINA worlds
Ghana repatriates 1,320 Nigeriens over street begging
Singapore reports 6,168 new COVID-19 cases
Lithuania's Meilutyte wins women's 50m breaststroke at FINA worlds
Ethiopia arrests three suspects in relation to videotaped killing
Armstrong wins men's 50m backstroke at FINA worlds
French PM Borne backs enshrining abortion rights in constitution
Colombia president-elect Petro names peace envoy as foreign minister

Others Also Read