Higher U.S. dollar index restricted the gains
Bullion prices ended moderately higher at Comex on Monday, 09 June 2014. Gold futures settled with a modest gain on Monday, holding above $1,250 an ounce for a third straight session. Higher crude oil prices were a bullish outside market for the precious metals on Monday, but a higher U.S. dollar index was a bearish outside market as an offset.
Gold for August delivery added $1.40, or 0.1%, to settle at $1,253.90 an ounce on the Comex division of the New York Mercantile Exchange.
July silver rose 7.5 cents, or 0.4%, to $19.07 an ounce.
It was another listless trading day Monday. With no major geopolitical events making news headlines, and no major economic data out Monday, the gold and silver markets were quiet.
A main theme in the market place continues to be the bull market runs in U.S. and other major world stock markets. With many of the leading world stock indexes at or near record or multi-year highs, other asset classes like raw commodities, including gold and silver, have seen trader and investor buying interest limited. With extremely low interest rates and scant worries about inflationary price pressures at present, paper assets like stocks and bonds have fared better, compared to hard assets that tend to see better demand during times of inflation or keener geopolitical uncertainty.
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