Gold futures rise slightly on market correction

Source: Xinhua| 2017-08-08 05:06:05|Editor: huaxia
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CHICAGO, Aug. 7 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose slightly on Monday as investors digested sharp losses in the previous session and worried about further U.S. rate hikes.

The most active gold contract for December delivery edged up 0.1 U.S. dollar, or 0.01 percent, to settle at 1,264.70 dollars per ounce.

Metals prices extended losses on Friday after a key employment report beat expectations. That prompted some traders to bet that the U.S. Federal Reserve would have few reasons to hold off on normalizing and raising interest rates, and reducing its 4.5 trillion U.S. dollars balance sheet.

As for other precious metals, silver for September delivery fell 0.1 cent, or 0.01 percent, to close at 16.251 dollars per ounce. Platinum for October inched up 2.6 dollars, or 0.27 percent, to settle at 971.6 dollars per ounce. Enditem