With positive sentiment on the U.S. economy, the Gold
futures slid down with a decrease in the demand for the metal. The Gold futures
for June delivery hit a low of $1,293.90 an ounce coming down by 0.7 % on the
Comex in New York..
Data revealed an increase in the consumer confidence level
with the upbeat economy. The lower jobless claims also boosted the confidence.
The increase in the Philadelphia factory index depicting an increase in the
regional manufacturing further fuelled the sentiments on the greenback.
These upbeat economic data diminished gold to lower level
with a decrease of 1.9 % this week.
On the Nymex, the palladium futures for June delivery moved
up to $807.10 an ounce, making an increase of 0.6 %. On the Comex, the silver
futures for May delivery moved down to $19.596 an ounce, decreasing by 0.2 %.
With the labor dispute expected to come to end in South Africa, the world’s
biggest producer of platinum, the metal saw a slump down.
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