Gold futures are trading higher to start the trading week, but the yellow metal’s momentum appears to have stalled. Amid fears over a potential
June gold futures jumped $2.79, or 0.21%, to $1,350.70 per ounce at 15:46 GMT on Monday. Last week, gold recorded a second consecutive weekly gain of about 1%, buoyed by global risks.
The white metal is attempting to rally to kick off the trading week. May silver futures rose $0.03, or 0.19%, to $16.69 an ounce. The sister commodity to gold also reported a weekly increase of 1.5% last week.
Precious metals are getting a boost from a weaker US dollar as the greenback slipped 0.34% to 89.52. A sliding buck is good
Investors have not been jittered as previously expected from Friday’s
Markets are still getting spooked by trade war reports, but they have somewhat faded in recent days.
Meanwhile, mixed economic data did support gold’s tepid rally.
The latest report shows retail sales in March had their first gain in four months. But the Empire State Manufacturing Survey for April highlighted a reversal from the previous month’s numbers. The home builders’ index for April also tumbled for the fourth straight month.
Other metal commodities were performing well on Monday. May copper futures advanced $0.03, or 1.17%, to $3.07 per pound. May platinum futures were flat at $932 per ounce. May palladium surged $19.50, or 1.95%, to $1,000.05 an ounce.
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