Gold futures fell Tuesday, pressured by U.S. dollar strength after strong U.S. May housing starts and building permits data, as homebuilders ramped up building single-family homes to meet strong demand from buyers, while investors looked ahead to testimony by Federal Reserve Chairman Jerome Powell starting Wednesday.
Gold for August delivery fell $23.50, or 1.2%, to settle at $1,947.70 an ounce on Comex. U.S. markets were closed Monday for the Juneteenth holiday.
July silver was down 89 cents, or 3.7%, to end at $23.23 an ounce.
July platinum dropped $19.30, or 2%, to finish at $968 an ounce, while September palladium shed $37.10, or 2.6%, to settle at $1,379.10 an ounce.
July copper was off 1 cent, or 0.1%, to end at $3.88 a pound.
Gold prices were lower Tuesday as traders assessed the U.S. May housing data that topped estimates.
Source: Marketwatch
