US Biz
CHICAGO, Aug. 30 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday as U.S. economic data came in lower than expected.
The most active gold contract for December delivery rose 7.90 U.S. dollars, or 0.40 percent, to close at 1,973.00 dollars per ounce.
The U.S. Commerce Department on Wednesday unexpectedly revised downward the growth in U.S. gross domestic product in the second quarter to 2.1 percent from the previously reported 2.4 percent.
The U.S. dollar index and Treasury yields dropped following the weaker than expected economic data.
Gold found additional support as the Automated Data Processing Inc. reported Wednesday that private sector jobs rose by 177,000 in August, lower than the 200,000 increase economists had expected.
Investors are also waiting for the July personal consumption expenditure index due out on Thursday and the August U.S. employment report on Friday.
Silver for December delivery fell 3.50 cents, or 0.14 percent, to close at 25.104 dollars per ounce. Platinum for October delivery fell 2.80 dollars, or 0.28 percent, to close at 983.30 dollars per ounce.