Gold falls as U.S. stock indexes rise

Xinhua
24 Jul 2021, 05:18 GMT+10

CHICAGO, July 23 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as the U.S. stock indexes rose.

The most active gold contract for August delivery fell 3.6 U.S. dollars, or 0.2 percent, to close at 1,801.8 dollars per ounce.

Investors' appetite for risk ran high as all three major U.S. stock indexes rose, the U.S. dollar strengthened and U.S. Treasury yields increased.

Gold found some support as research firm IHS Markit said Friday that its flash or preliminary composite output index for the United States fell to a four-month low of 59.7 in July from 63.7 in June, indicating a cooling U.S. economy.

Gold slipped about 0.7 percent in the week.

Silver for September delivery fell 14.8 cents, or 0.58 percent, to close at 25.233 dollars per ounce. Platinum for October delivery fell 29.2 dollars, or 2.68 percent, to close at 1,061.4 dollars per ounce.

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