Gold rises on geopolitical tensions

GMT 03:11 2014 Tuesday ,01 July

Arab Today, arab today Gold rises on geopolitical tensions

Gold futures on of the New York Mercantile Exchange
Chicago - XINHUA

Gold futures on the COMEX division of the New York Mercantile Exchange went up on geopolitical tensions Monday.
The most active gold contract for August delivery rose 2 dollars, or 0.15 percent, to settle at 1,322 dollars per ounce.
Gold ended the month of June with a gain of around 6.1 percent, the biggest monthly gain since February, and concluded the second quarter with a rise of 3 percent.
Any spark of the geopolitical tensions in Iraq or Ukraine would trigger a new round of safe haven buying of gold, market analysts believe.
Data released Monday produced little impact on gold. Chicago purchasing managers' index (PMI), Chicago business barometer, slipped to 62.6 in June from 65.5 in May; preliminary reading of inflation in euro zone remained stable at 0.5 percent in June, falling short of a 0.6 percent forecast ahead of the European Central Bank meeting scheduled for Thursday.
Investors are waiting for monthly U.S. employment data due out Thursday.
Silver for September delivery lost 7.8 cents, or 0.4 percent, to close at 21.056 dollars per ounce. Platinum for October delivery gained 2.6 dollars, or 0.18 percent, to close at 1,482.9 dollars per ounce.

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