Gold Stay Strong As Assets Safe After Weak Data From U.S. ?

1 Onz of Fine GoldWritten by Bambang Adhy Sanguinar Gold gains persist into Wednesday in late trading, though down from the highest one month earlier, as investors look for security after U.S. manufacturing data and private sector jobs report for May is weak. 


Alarming data from the Institute for Supply Management following the preliminary data showed the U.S. private sector added only 38.000 jobs in May, the dubious health of the world's largest economy and damage the dollar.
Gold traded at $ 1,538.40 an ounce at 3:55 pm EDT (1955 GMT) after earlier reaching $ 1,550.14, the highest since May 3.
Benchmark August COMEX futures rose $ 6.40 to close at $ 1,543.20 after earlier reaching the highest since May 2 at $ 1,551.60 an ounce.
Gold prices in euro reached historic high of 1,088.11 euros per ounce last week and a record high of $ 1,575.79 dollars per ounce in early May, just before the big sell-off in the commodities complex. Rose sharply to 1,073.28 per ounce at the last moment.
Silver lower at $ 36.76 per ounce from $ 38.44 at the close Tuesday. U.S. silver futures in July fell 4 percent to $ 36.77 in trading after closing. Silver fell more than 20 percent in May.
U.S. platinum and palladium futures also dropped following the reported decline in most major U.S. car.
In the final transaction, benchmark platinum futures lost $ 12.70 to $ 1,821.30 per ounce and PALLADIUM futures fell $ 6.45 to $ 772.50 an ounce.
PALLADIUM slumped to $ 769.47 per ounce from $ 774.10 per ounce on Tuesday, and platinum fell to $ 1,815.24 $ 1,828.10 compared to the previous day. (BA) source: askapfutures.com
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