San
Francisco �� Gold futures climbed on Tuesday to settle back above
$1,260 an ounce for the first time in two weeks, finding support from
some weakness in U.S. equities as traders awaited economic data later in
the week.Prices for platinum group metals, meanwhile, rallied as talks aimed at ending a prolonged South African mining strike reportedly failed, lifting palladium prices to their highest close in roughly 3 years.
Gold for August delivery rose $6.20, or 0.5%, to settle at $1,260.10 an ounce on the Comex division of the New York Mercantile Exchange, extending Monday��s modest gain. Prices, tracking the most-active contracts, closed at their highest level since May 27.
July silver rose 10 cents, or 0.5%, to end at $19.17 an ounce.
U.S. retail sales figures for May are due Thursday and the U.S. May producer-price index will be released Friday. See the economic calendar.
Last Thursday, gold futures saw their largest single session gain since May 14, jumping $9, or 0.7% after the European Central Bank cut interest rates and announced a clutch of other easing moves.
Source : MarketWatch
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