Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday.
The most active gold contract for June delivery rose 12.4 U.S. dollars, or 0.73 percent, to close at 1,713.3 dollars per ounce.
Gold was given support as a report released by the U.S. Department of Commerce on Monday showed factory orders fell by 10.3 percent amid COVID-19 lockdowns. Orders for nondurable goods also fell by 5.8 percent. Analysts note that orders are likely to continue falling as COVID-19 lockdowns have caused a drop-off in demand.
Dow Jones Industrial Average fell by 185.53 points, or 0.78 percent, to a 23,538.16 level as of 1750 GMT, supportive of gold.
The U.S. Dollar Index rose by 0.44 points, or 0.44 percent, to a 99.52 level as of 1750 GMT, dragging gold’s growth.
Silver for July delivery fell 14.2 cents, or 0.95 percent, to close at 14.796 dollars per ounce. Platinum for July delivery rose 4.6 dollars, or 0.59 percent, to close at 778.5 dollars per ounce. Enditem
