Tuesday, June 3rd 02:03 PM IST

Gold prices hit 4-month low; Silver edges up

# COMEX Gold  

The most active August Comex gold was last down $3.40 at $1,242.60 an ounce. July Comex silver last traded up $0.023 at $18.71 an ounce.

NEW YORK (Bullion Street): Gold prices hit a four-month low on Monday while silver traded up.

The spot gold price was down 0.6 percent at $1,243 an ounce by 2100 GMT. The session bottom of $1,240.69 marked a four-month low, with the previous level set on February 3rd .

The most active August Comex gold was last down $3.40 at $1,242.60 an ounce. July Comex silver last traded up $0.023 at $18.71 an ounce.

A firmer U.S. dollar index was a bearish outside market factor that worked against the precious metals Monday.

There is also a lack of major, markets-moving fundamental news in the market place at present. However, that could change in the coming days as a heavy slate of worldwide economic data comes out this week.

US economic data due released Monday included the ISM manufacturing report, which initially boosted the gold market just a bit when it was reported at a weaker-than- expected 53.2.

However, that initial reported ISM figure was wrong, and the corrected figure of 56.0 was in line with previous expectations.

How about a fully featured Android App for your business?

Most Popular

Bullion Street Newsletter