Gold price shoots up 1.1% to $1,186; WTI slides 0.4% to $58.93
New York (May 4) Gold futures bounced off a six-week low as traders searched for clues on when the Federal Reserve will begin lifting interest rates.
Gold for June delivery rose 1.1 percent to settle at $1,186.80 an ounce on Comex.
Data today showed that U.S. factory orders in March rose by a less-than-expected 2.1 percent.
In other metals trading, July silver jumped 1.9 percent to $16.441 an ounce, following declines over the past two trading sessions.
July platinum rose 1.9 percent to $1,150.90 an ounce, while June palladium advanced 1.2 percent to $782.65 an ounce.
July copper fell about a penny, or 0.3 percent to $2.9205 a pound.
In energy trading, oil futures settled lower today as a monthly decline in Chinese manufacturing activity dulled the outlook for crude demand, pushing prices back below $59 a barrel.
On the New York Mercantile Exchange, West Texas Intermediate for June delivery settled at $58.93 a barrel, down 0.4 percent.
Brent crude for June delivery on London’s ICE Futures exchange fell a penny to end at $66.45 a barrel.
China’s HSBC purchasing managers index, a widely tracked gauge of manufacturing activity, fell in April to a final reading of 48.9 — the lowest level since April 2014.
Source: ProactiveInvestors
