Gold ends little lower but silver gains
Bullion prices ended in a mixed mode on Monday, 31 August 2015 at Comex. Gold prices ended the U.S. day session little lower but right around the unchanged level on the day on Monday. Modest early losses were erased when crude oil prices staged another big rally, to give beleaguered raw commodity sector bulls some hope that sector leader crude has put in a market bottom. Silver gained.
Gold for December delivery lost $1.50, or 0.1%, to settle at $1,132.50 an ounce on Comex. It saw a monthly gain of around 3.4%, which was the largest since January's 8% surge.
December silver tacked on 3.7 cents, or 0.3%, to $14.586 an ounce, losing around 1.1% compared with the $14.745 settlement of the September contract on July 31.
October Nymex crude oil traded above $48.00 a barrel on Monday, and has tacked on more than $10.00 a barrel since last week's six-year low of $37.75 a barrel. Meantime, the other key outside market, the U.S. dollar index, was weaker Monday. The greenback bulls had a good week last week, moving prices well up from the August spike low.
China's Shanghai stock index was down just short of 1% on Monday. Reports said China's central bank was not intervening to buy domestic shares.
Economic data this week will help gold traders gauge prospects for Fed action this year. Data Monday showed that Chicago PMI fell slightly in August. Friday is the data highlight for the week with the release of monthly employment figures.
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