Gold rebounds from one month low

Gold and SilverChicago:(IANS) Gold futures on the COMEX division of the New York Mercantile Exchange rebounded from one month low on Thursday.

The most active gold contract for December delivery gained $7.30, or 0.66 percent, to settle at $1,109.30  per ounce.

Gold futures rebounded on short covering as the prices settled to their lowest Wednesday since Aug. 7,  according to analysts.

The falling European equities markets also gave some additional support to gold, analysts said.

On Thursday, FTSE 100 Index, British benchmark stock market gauge, dropped 1.18 percent, while French stock market benchmark index CAC 40 was also down 1.46 percent.

On the economic data, initial jobless claims went down 6,000 to an as-expected level of 275,000, according to a report released Thursday by United States Department of Labor.

For the other metals, silver for December delivery added 6.90 cents, or 0.47 percent, to close at $14.645 per ounce. Platinum for October delivery remained unchanged and closed at $981. 20 per ounce.


Leave a Reply

Your email address will not be published. Required fields are marked *