US Biz
CHICAGO, Sept. 6 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday as U.S. treasury yields rose.
The most active gold contract for December delivery fell 8.40 U.S. dollars, or 0.43 percent, to close at 1,944.20 dollars per ounce.
Speaking in prepared remarks Wednesday at the New England Council, Boston Federal Reserve President Susan Collins said the Federal Reserve is "well positioned to proceed cautiously" on interest rate hikes after one of its most aggressive tightening cycles in decades.
While the Fed "may be near, or even at, the peak" of rate hikes, "further tightening could be warranted" depending on the data, Collins said. She expects rates to remain at restrictive levels for "some time."
Economic data released on Wednesday were mixed. The Institute for Supply Management's services purchasing managers index (PMI) registered 54.5 in August, a 1.8-percentage point increase compared to the July reading of 52.7 percent.
The S&P Global U.S. services PMI came in at 50.5 in August, just below the 51.0 forecast.
Silver for December delivery fell 37.00 cents, or 1.55 percent, to close at 23.503 dollars per ounce. Platinum for October delivery fell 18.20 dollars, or 1.95 percent, to close at 915.30 dollars per ounce.