CHICAGO, Aug. 26 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange went down slightly Monday on weaker than expected U.S. durable goods data.
The most active gold contract for December delivery dropped 2.7 dollars, or 0.19 percent, to settle at 1,393.1 dollars per ounce.
The U.S. Commerce Department reported Monday that orders for durable goods in the United States decreased 7.3 percent in July, exceeding economists' expectation of a 4.9-percent drop. The weaker than expected data, together with weak new-home sales figures for July in the country, have led some investors to doubt whether the Federal Reserve will scale down its bond purchases at its September meeting.
Meanwhile, gold holdings of SPDR Gold Trust this year had risen by 6.6 tonnes as of last Friday. Data from the Commodity Futures Trading Commission also showed money managers had increased their bets that gold prices would extend gains. Market analysts attributed the uptick partly to short coverings.
Silver for September delivery rose 27.2 cents, or 1.15 percent, to 24.01 dollars per ounce. Platinum for October delivery gained 2. 9 dollar, or 0.19 percent, to 1,544.5 dollars per ounce.