Rebounding stocks and concerns about physical demand have also diminished appetite for the precious metal in recent weeks.
Gold for August delivery, the most actively traded contract, dropped
Gold for June delivery scaled an intraday high of
The dollar index, which tracks the US unit against six major currencies, traded at 80.62 on Monday, up from its previous close of 80.39 late Friday in North American trade. The dollar scaled a high of 80.68 intraday and a low of 80.39.
The euro traded lower against the dollar at
In economic news, US manufacturing sector in May grew at its fastest pace this year, with the purchase managers index rising to 55.4% from 54.9% in April, according to a report from the
In economic news, construction spending in the US rose less than expected in April, with spending edging up 0.2% to an annual rate of
The harmonized index of consumer prices rose only 0.6% on a yearly basis in May. Inflation was expected to slow marginally to 1% from 1.1% seen in April. Month-on-month, consumer prices were down 0.1%, against expectations for a 0.1% rise. Similarly, harmonized prices slipped 0.3%, instead of a 0.1% rise forecast by economists.
Most Popular Stories
- Neighbor Warns Chris Brown to Stay Off His Property
- Venezuelan Officials Banned From Traveling in U.S.
- Homeowners More Satisfied With Mortgage Servicers
- Ford Tremor: Easy to Park, Hard to Pay For
- WWE Showing Off Its Muscles
- As Jobs Market Strengthens, Many Don't Feel It
- Adrienne Bailon Disses Ex-Lover Rob Kardashian
- Target Taps Pepsi Exec as New CEO
- Hispanic Arts Leaders Unite Across the Border
- Islamic State Fights for Control of Syrian Oil Wealth