Gold futures closed lower today as a rise in U.S. consumer sentiment and strength in Chicago’s business barometer contributed to broad gains in U.S. equities, luring investors away from the precious-metals market.
Gold futures prices logged a loss of around 0.2 percent for the week—their first weekly loss in four weeks. They climbed roughly 6.6 percent this month for the second-monthly gain in a row.
Gold for April delivery surrendered 0.8 percent to finish at $1,321.60 an ounce on the Comex division of the New York Mercantile Exchange.
U.S. consumer confidence in the U.S. improved in February from a month earlier as more consumers grew optimistic about the outlook for the economy. The Chicago Board Options Exchange Volatility Index slipped 3.1 percent today to 13.60.
In other metals, May silver closed down 0.5 percent at $21.24 an ounce, with futures prices 2.5 percent lower on the week, but up 11 percent for the month.
April platinum gave back 0.5 percent to close at $1,446.80 an ounce, with prices trading around 5.2 percent higher for the month.
June palladium increased 0.1 percent to $744.45 an ounce, with most-active futures prices up about 5.9 percent for February.
High-grade copper for May delivery closed down over a penny at $3.19 a pound, with prices for the most-active contracts around 0.3 percent lower for the month.
In energy markets, oil futures finished with a slight gain today, but ended the month more than 5 percent higher.
Upbeat U.S. economic data helped buoy the outlook for energy demand and cold weather continued to support demand for oil and oil products in February.
April crude rose 0.2 percent to finish at $102.59 a barrel on the New York Mercantile Exchange.
Stockpiles at the futures’ delivery point slid 7.04 million barrels in the four weeks ended Feb. 21 as the southern leg of TransCanada Corp. (TSE:TRP)’s Keystone XL pipeline moved oil to Texas from the hub.
Elsewhere in energy, natural-gas futures settled with gain for the session, but still lost for the month, pulling back after four-consecutive monthly gains.
April natural gas increased 2.2 percent to $4.61 per million British thermal units, with prices losing nearly 7 percent on the month.
Reported by Proactive Investors 20 minutes ago.
Gold futures prices logged a loss of around 0.2 percent for the week—their first weekly loss in four weeks. They climbed roughly 6.6 percent this month for the second-monthly gain in a row.
Gold for April delivery surrendered 0.8 percent to finish at $1,321.60 an ounce on the Comex division of the New York Mercantile Exchange.
U.S. consumer confidence in the U.S. improved in February from a month earlier as more consumers grew optimistic about the outlook for the economy. The Chicago Board Options Exchange Volatility Index slipped 3.1 percent today to 13.60.
In other metals, May silver closed down 0.5 percent at $21.24 an ounce, with futures prices 2.5 percent lower on the week, but up 11 percent for the month.
April platinum gave back 0.5 percent to close at $1,446.80 an ounce, with prices trading around 5.2 percent higher for the month.
June palladium increased 0.1 percent to $744.45 an ounce, with most-active futures prices up about 5.9 percent for February.
High-grade copper for May delivery closed down over a penny at $3.19 a pound, with prices for the most-active contracts around 0.3 percent lower for the month.
In energy markets, oil futures finished with a slight gain today, but ended the month more than 5 percent higher.
Upbeat U.S. economic data helped buoy the outlook for energy demand and cold weather continued to support demand for oil and oil products in February.
April crude rose 0.2 percent to finish at $102.59 a barrel on the New York Mercantile Exchange.
Stockpiles at the futures’ delivery point slid 7.04 million barrels in the four weeks ended Feb. 21 as the southern leg of TransCanada Corp. (TSE:TRP)’s Keystone XL pipeline moved oil to Texas from the hub.
Elsewhere in energy, natural-gas futures settled with gain for the session, but still lost for the month, pulling back after four-consecutive monthly gains.
April natural gas increased 2.2 percent to $4.61 per million British thermal units, with prices losing nearly 7 percent on the month.
Reported by Proactive Investors 20 minutes ago.