Gold rises on weaker U.S. dollar
Jul 23, 2022
Chicago [US], July 23: Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as the U.S. dollar weakened.
The most active gold contract for August delivery rose 14 U.S. dollars, or 0.82 percent, to close at 1,727.4 dollars per ounce.
Gold broke a streak of five consecutive weekly losses and gained 1.4 percent this week.
Economic data released Friday also supported gold. The S&P Global U.S. services purchasing managers index (PMI) fell to 47 in July from 52.7 in June.
The S&P Global flash U.S. manufacturing PMI posted at 52.3 in July, down from 52.7 in June, signaling weak improvements in operating conditions across the U.S. manufacturing sector.
Silver for September delivery fell 10.2 cents, or 0.54 percent, to close at 18.617 dollars per ounce. Platinum for October delivery rose 8.5 dollars, or 0.99 percent, to close at 867.2 dollars per ounce.
Source: Xinhua
