US Biz
CHICAGO, April 18 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday as the U.S. dollar weakened.
The most active gold contract for June delivery rose 12.70 U.S. dollars, or 0.63 percent, to close at 2,019.70 dollars per ounce.
In an interview with Reuters on Tuesday, St. Louis Federal Reserve President James Bullard reiterated that higher U.S. interest rates are necessary to bring inflation under control. He said he doesn't see a recession taking place anytime soon.
Economic data released Tuesday are mixed. The U.S. Commerce Department reported that U.S. building permits, a key indicator of the pace of future construction, fell a sharper 8.8 percent to a 1.41 million rate in March.
The U.S. Commerce Department further reported that U.S. housing starts slid 0.8 percent to an annual rate of 1.42 million units in March.
Silver for May delivery rose 17.50 cents, or 0.70 percent, to close at 25.263 dollars per ounce. Platinum for July delivery rose 37.70 dollars, or 3.56 percent, to close at 1,097.30 dollars per ounce.