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Gold futures up modestly

English.news.cn   2014-06-10 07:24:17

CHICAGO, June 9 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose slightly Monday as investors waited for economic data due to be released later this week.

The most active gold contract for August delivery rose 1.4 dollars, or 0.11 percent, to settle at 1,253.9 dollars per ounce.

After positive U.S. jobs report released last week, investors are anticipating the release of wholesale inventories data for April, U.S. retail sales for May, the producer price index and the University of Michigan consumer sentiment figures this week.

St. Louis Federal Reserve President James Bullard said Monday that evidence indicated that inflation was moving higher; while President of Boston Fed Eric Rosengren said the Federal Reserve should not hike short-term interest rates until U.S. economy is within one year of reaching the bank's desired full employment and 2-percent annual inflation.

China, one of the world's largest gold buyers, guided yuan to its strongest level against dollar in more than two months Monday, after signs show that the Chinese economy is stabilizing after a recent slowdown.

Gold prices have established a new trading range between 1,240 dollars and 1,270 dollars an ounce, market analysts hold. But they also warned that June has been a poor month for gold in recent years, especially last year.

Silver for July delivery gained 7.5 cents, or 0.39 percent, to close at 19.066 dollars per ounce. Platinum for July delivery climbed 1.3 dollars, or 0.09 percent, to close at 1,454.3 dollars per ounce.

Editor: Mengjie
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