Gold falls on stronger U.S. dollar


By Xu JingUnreguser
  • World
  • Saturday, 02 Jul 2022

CHICAGO, July 1 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as the U.S. dollar rose.

The most active gold contract for August delivery fell 5.8 U.S. dollars, or 0.32 percent, to close at 1,801.5 dollars per ounce.

Economic data released on Friday supported gold. The S&P Global U.S. Manufacturing Purchasing Managers' Index fell to 52.7 in June from 57.0 in May, slightly above the preliminary reading of 52.4 and signaling that factory activity grew at its slowest pace in almost two years.

The Institute for Supply Management (ISM) barometer of American factories fell to a two-year low of 53 percent in June. The ISM index dropped 3.1 points from 56.1 percent in May.

Silver for September delivery fell 68.5 cents, or 3.37 percent, to close at 19.667 dollars per ounce. Platinum for October delivery fell 24 dollars, or 2.68 percent, to close at 871.3 dollars per ounce.

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