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Gold rises on easier monetary policy expectations 2024/3/6 source: Print

CHICAGO, March 5 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday as market expectations increased for easier monetary policies from major central banks worldwide this year.

The most active gold contract for April delivery rose 15.60 U.S. dollars, or 0.73 percent, to close at 2,141.90 dollars per ounce.

Falling U.S. dollar index and Treasury yields further supported gold.

Economic data released Tuesday were mixed. The U.S. Commerce Department reported that U.S. factory orders plunged 3.6 percent in January after falling by a revised 0.3 percent in December. Economists had expected factory orders to tumble by 2.9 percent.

The Institute for Supply Management's services index decreased to 52.6 percent in February, down from 53.4 percent in January.

The S&P Global U.S. services purchasing managers index came in at a reading of 52.3 in February, surpassing the 51.3 forecast.

U.S. February jobs report will be released on Friday.

Silver for May delivery fell 0.70 cents, or 0.03 percent, to close at 23.984 dollars per ounce. Platinum for April delivery fell 17.10 dollars, or 1.89 percent, to close at 887.20 dollars per ounce. 


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