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Gold rises as U.S. dollar weakens

CHICAGO
2023-02-28 03:45

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CHICAGO, Feb. 27 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as the U.S. dollar weakened.

The most active gold contract for April delivery rose 7.80 U.S. dollars, or 0.43 percent, to close at 1,824.90 dollars per ounce.

Economic data released Monday are mixed. The U.S. Commerce Department reported that U.S. new orders for durable goods fell 4.5 percent to 272.3 billion dollars in January, following a 5.1-percent increase in December. The decline in January was the second in the past three months.

The National Association of Realtors reported that U.S. pending home sales index, a leading indicator of home sales based on contract signings, rose 8.1 percent to 82.5 in January, the largest monthly increase since June 2020.

Silver for May delivery fell 14.30 cents, or 0.68 percent, to close at 20.793 dollars per ounce. Platinum for April delivery rose 34 dollars, or 3.74 percent, to close at 941.90 dollars per ounce.
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