SMM: COMEX gold futures rose slightly on Tuesday, reaching a two-week high; at one point in intraday trading, it broke through the $2000 / oz mark, but closed with gains scaled back as better-than-expected US manufacturing data in August helped boost the dollar index from about two-year lows.
The most actively traded monthly gold futures of COMEX12 rose 0.30 U.S. dollars, or 0.02 percent, to settle at 1978.90 U.S. dollars an ounce, the highest close since August 18, at 13:30 new York time (01:30 on Sept. 18).
BobHaberkorn, senior market strategist at RJOFutures, said: "the manufacturing data are much better than expected, which is why gold prices have reduced their gains and given the dollar a little boost."
The dollar rose 0.2 per cent against its main rival currencies, rebounding from a more than two-year low hit earlier today.
The US ISM manufacturing PMI rose to 56 in August, the highest level since January 2019, as new orders surged, according to (ISM), the Institute for supply Management. After the release of the data, global stock markets rose, also putting pressure on gold prices.
For other precious metals, December silver futures rose 5. 1 cents to settle at $28.645 an ounce.
Platinum futures rose $14.80 in October to settle at $952.7 an ounce.
December palladium futures rose $31.80 to settle at $2311.10 an ounce.
In addition, COMEX12 copper for monthly delivery closed down 3. 3 cents at $3.0285 a pound.
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