Bullion metal prices ended higher on Monday, 01 July 2013 at Comex. Comex gold prices ended the U.S. day session sharply higher on Monday trying to recover from last quarter's big losses. Major rioting in Egypt also prompted a bit of safe-haven demand for gold.
Gold for August delivery ended higher by $32 (2.6%) at $1,255.7 an ounce on the Comex division of the New York Mercantile Exchange on Monday.
September silver ended lower by $0.11 (0.6%) at $19.58 an ounce on Monday.
In the latest dose of global economic data, China's Manufacturing PMI declined to 50.10 from 50.80 (50.00 expected) while the HSBC Manufacturing PMI remained in contraction with a downtick to 48.2 from 48.3 (48.3 forecast).
Meanwhile, Manufacturing PMI reports out of Europe surprised to the upside, but most readings remained in concretionary territory. Great Britain was the standout with a reading of 52.5 (51.5 expected, 51.5 prior) while the Eurozone Manufacturing PMI improved to 48.8 from 48.7.
The U.S. dollar index, which weighs the strength of the dollar against a basket of six other currencies, fell by 0.1% on Monday.
Among latest economic data expected at Wall Street, The ISM Index increased to 50.9 in June from 49.0 in May, ending a one-month contraction. The consensus expected the index to increase to 50.5.
Separately, construction spending increased 0.5% in May after increasing a downwardly revised 0.1% (from 0.4%) in April. That was exactly what the consensus expected. Surprisingly, the entire gain in construction came from the public sector. After months of weakness, that sector increased 1.8% on strong overall growth.
At the MCX, gold prices for August delivery closed higher by Rs 312 (1.2%) at Rs 25,981 per ten grams. Prices rose to a high of Rs 26,075 per 10 grams and fell to a low of Rs 25,574 per 10 grams during the day's trading.
At the MCX, silver prices for September delivery closed lower by Rs 109 (0.3%) at Rs 40,679/Kg. Prices opened at Rs 40,700/kg and fell to a low of Rs 40,437/Kg during the day's trading.
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