CHICAGO, Oct. 2 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday on stronger U.S. dollar.
The most active gold contract for December delivery fell 18.90 U.S. dollars, or 1.01 percent, to close at 1,847.20 dollars per ounce.
The U.S. economy is still dealing with the aftermath of the COVID-19 pandemic, Federal Reserve Chair Jerome Powell said during a meeting with community and business leaders in York, Pennsylvania, on Monday.
In prepared remarks to a banking conference, Federal Reserve Governor Michelle Bowman said Monday: "I remain willing to support raising the federal funds rate at a future meeting if the incoming data indicates that progress on inflation has stalled or is too slow to bring inflation to 2 percent in a timely way."
Economic data released on Monday were mixed. The Institute for Supply Management (ISM) manufacturing index came in higher than expected at 49 percent in September, up from 47.6 percent a month earlier.
The September S&P Global U.S. Manufacturing Purchasing Managers' Index (PMI) rose to 49.8 from 47.9 in August. The September reading was higher than the expected reading of 48.9.
The U.S. Commerce Department reported that U.S. spending on construction projects rose 0.5 percent in August to 1.98 trillion dollars. Economists were expecting construction spending to rise 0.6 percent in August.
Silver for December delivery fell 1.029 dollars, or 4.58 percent, to close at 21.421 dollars per ounce. Platinum for January delivery fell 29.10 dollars, or 3.18 percent, to close at 886.80 dollars per ounce.
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