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04-Oct2016

Gold futures end lower as dollar strengthens

Gold futures ended lower on Monday as the dollar strengthened against a basket of major currencies on stronger-than-expected US manufacturing data and investors awaited jobs data later this week for clues about whether US interest rates would rise by the year-end. The Institute for Supply Management (ISM) reported that the US Manufacturing index for September came up to 51.5, from 49.4 in the previous month. Construction spending fell 0.7 percent in August, with analysts expecting a 0.2 percent increase.

Gold futures for December delivery declined $4.40 or 0.3 percent to settle at $1,312.70 an ounce on the Comex division of the New York Mercantile Exchange. While, spot gold was down 0.3 percent to $1,311.54 an ounce.


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