Breaking News

US Factory Orders Not Likely to Help Silver, Gold

By MetalMiner CommoditiesJun 04, 2014 03:26AM ET
US Factory Orders Not Likely to Help Silver, Gold
By MetalMiner   |  Jun 04, 2014 03:26AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

Precious metals are not likely to get a boost from today’s report on US factory orders. Orders to US factories rose for a third consecutive month in April, adding to evidence that manufacturing is regaining momentum after a harsh winter.

Orders increased 0.7 percent in April, pushed higher by a surge in demand for military hardware, the Commerce Department reported Tuesday. That followed a 1.5 percent increase in March and a 1.7 percent climb in February. Unfortunately, the market had shrugged off any gains from the report by midday Tuesday. A stronger dollar also hurts silver, gold and other precious investment metals.

Japanese Silver saw a 1.8 percent drop on Monday, June 2, landing at JPY 612.00 ($6.01) per 10 grams and making it the biggest mover of the day. After remaining flat for three days, the price of US silver fell 1.3 percent yesterday to $18.80 per ounce. At INR 40,542 ($684.38) per kilogram, Indian silver fell 0.9 percent on Monday. The price of Chinese silver showed little movement yesterday at CNY 4,160 ($665.46) per kilogram.

US Gold bullion prices saw a 1.0 percent decline to $1,246 per ounce. Indian gold bullion finished the day down 0.6 percent to INR 25,514 ($430.70) per 10 grams. The price of Japanese gold bullion declined 0.6 percent to JPY 4,078 ($40.03) per gram. After dropping for two days, the price of Chinese gold bullion flattened at CNY 252.80 ($40.44).

US Platinum bar closed 1.5 percent lower at $1,432 per ounce. The price of Japanese platinum bar fell 0.7 percent to JPY 4,740 ($46.52) per gram. Chinese platinum bar stayed flat at around CNY 312.00 ($49.91) per gram.

US Palladium bar ended the day at $831.00 per ounce, after the 0.2 percent drop yesterday. The price of Japanese palladium bar fell 0.1 percent on Monday, just off the 30-day high of JPY 2,730 ($26.80) per gram it hit the day prior. The price of Chinese palladium bar remained steady at CNY 189.00 ($30.23) per gram.

US Factory Orders Not Likely to Help Silver, Gold
US Factory Orders Not Likely to Help Silver, Gold

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post also to:
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Please wait a minute before you try to comment again.
Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Add Chart to Comment
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google+
Sign up with Email